Premier league 2

Exactly. The administrators have accepted a bid and if the money is paid then whoever is involved has absolutely nothing to do with them. 

Increasingly I am drawn to the conclusion that Prem 2 (if it ever comes to be) will be open to franchises rather than those clubs who currently merit a place through their position in the Championship.

I suspect, the well-heeled Championship clubs will apply and some might be accepted after detailed scrutiny

I am sure Wasps and Worcester would try to apply, and while I am not sure that they are capable of making a sustainable bid, but they might not get the same scrutiny.

My guess is that they will solicit bids from clubs from other codes, to run a RU side. 

Theoretically, if you have the facilities, running a second team should be profitable, as you sweat your assets. But somehow, it does not seem to work. Leeds and Quins both had cross code set-ups, and neither really worked.

A fully professional rugby side is some 40 players, plus say five coaches and three medics, even if you borrow S&C staff from the parent, so you are not going to have much change from £3m just for wages and NI contributions.

Operational costs would be on top of that.

So you are either going to need TV money, significant sponsorship, a sugar daddy or some combination of the three.

It does not sound like an obvious investment to me.

I doubt they will do that to be honest, I cannot think of it working successfully, anywhere.

Think your costs are if anything conservative.

Regarding value investment:  Were the deal to be permanent ring fencing of the professional game, similar to the Football league in the 1890s for instance, the position within the league would have an inherent value and lots of private venture sports leagues are attractive stores of value for wealthy people.  From an obvious perspective if you are mega wealthy sports clubs are decent dodges from inheritance tax, particularly at the level of value we're theoretically talking about here.

Contrary to popular narrative Rugby union has seen consistent growth of income, and rugby union is a popular spectator sport with a track record of building fan bases in the last 25 years.

Where the popular narrative is correct is that it has struggled to control its costs.  What we're not privy to is the whole detail in this proposal which might give new owners reason to be optimistic. 

Ealing, 

Probably Doncaster, who do appear to have a stadium suitable for the Premiership.

I would have said Jersey, but they were apparently spending more than they earned.

Possibly Pirates, Coventry, and Bedford who at least have grounds with large stands and fans to fill them.

Which, is why I think they need to find franchises to fill the league.