A CONSORTIUM THAT includes former Worcester chief executive Jim O’Toole has been announced as the Warriors’ new owners.
Worcester Warriors entered administration earlier this season, resulting in their expulsion from the Gallagher Premiership.
Administrators Begbies Traynor can now progress the sale “following a complex process”.
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O’Toole and his business partner James Sandford have had their bid accepted with Atlas Worcester Warriors now taking over the running of the club.
Julie Palmer, partner at Begbies Traynor, said: “Following a complex process, we are now able to progress the sale of Worcester Warriors and associated assets to Atlas Worcester Warriors Rugby Football Club Limited (“Atlas”).
“We can confirm that contracts have been exchanged with Atlas.
“This is an exclusive contractual position, and Atlas are committed to completing this transaction as early as possible and will share with both the rugby community and local community their plans for the club’s future.
“Due to the confidential nature of this transaction, we have been unable to provide this update any earlier but have appreciated the ongoing interest of supporters, staff and related organisations.
“We are delighted to see that there is a clear plan in place to deliver both rugby and many other exciting community-focused initiatives to Sixways, befitting the fabulous facilities and which will entertain the extensive support base.”
In December, Atlas saw a bid rejected on the grounds of its refusal to meet conditions set by the Rugby Football Union.
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Ex-Worcester chief executive among consortium taking over Warriors
A CONSORTIUM THAT includes former Worcester chief executive Jim O’Toole has been announced as the Warriors’ new owners.
Worcester Warriors entered administration earlier this season, resulting in their expulsion from the Gallagher Premiership.
Administrators Begbies Traynor can now progress the sale “following a complex process”.
O’Toole and his business partner James Sandford have had their bid accepted with Atlas Worcester Warriors now taking over the running of the club.
Julie Palmer, partner at Begbies Traynor, said: “Following a complex process, we are now able to progress the sale of Worcester Warriors and associated assets to Atlas Worcester Warriors Rugby Football Club Limited (“Atlas”).
“We can confirm that contracts have been exchanged with Atlas.
“This is an exclusive contractual position, and Atlas are committed to completing this transaction as early as possible and will share with both the rugby community and local community their plans for the club’s future.
“Due to the confidential nature of this transaction, we have been unable to provide this update any earlier but have appreciated the ongoing interest of supporters, staff and related organisations.
“We are delighted to see that there is a clear plan in place to deliver both rugby and many other exciting community-focused initiatives to Sixways, befitting the fabulous facilities and which will entertain the extensive support base.”
In December, Atlas saw a bid rejected on the grounds of its refusal to meet conditions set by the Rugby Football Union.
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new owners Worcester Warriors