WASPS owner Steve Hayes says his club's future is safe despite the club being threatened with a winding up order over an unpaid £1m tax bill.

He says the club responded to the threat immediately by putting an agreement in place with HM Revenue and Customs to pay the amount.

News of the threat, which came from the tax authorities last month, was made public in today's Independent newspaper.

A lunchtime statement issued by Wasps today insisted that the threat has now gone because the agreement has been put in place.

Joint Wasps and Wanderers owner Steve Hayes said: “We remain very confident in the future of London Wasps both on and off the pitch.

"There is no winding up petition and I am surprised by these reports given we already have an agreement in place with HMRC.

"We have enjoyed great form recently and look forward to a hugely exciting St George’s Day fixture at Twickenham on Saturday. The short and long term prospects at the Club, including development of a new stadium, are very exciting and show the good health of London Wasps.”

Meanwhile Wycombe District Council, which is currently working in partnership with Wasps and Wycombe Wanderers over a possible new stadium, said the proposals would not be affected by the announcement.

Spokesman Catherine Spalton said: "We have been given assurances by the Club that the matter is in hand and as such, we are currently confident that the matter will not adversely affect our assessment into the potential for us to bring a new, community stadium to the district.

"Under the terms of our collaboration agreement, we will be undertaking detailed due diligence, which will allow us the opportunity to review Wasps' finances in detail."