The model is very delicate and any slips always bring this sort stuff eg covid
Wasps has always gone from financial mess to financial mess, stems from being ‘nomadic’ throughout recent history IMHO
The Coventry thing was always a bit optimistic with what it cost.
Worcester was poor management.
It’s true all clubs bar Exeter were loss making pre covid to various extents. There is growth in the game that’s for sure as the basic product is good, however RFU are only interested in filling and maximising Twickenham revenue (it really is still 57 old farts) and PRL is just the clubs looking after the clubs (badly as they are far from commercial experts - something like CVC thing could’ve worked in that regard but they probably picked the wrong partner and covid didn’t help as that was used for survival rather than improvements). Needs a joined up approach to management of the game including global calendar and bring in someone like roc nation if you ask me.