worcester Warriors Sale In Doubt
Atlas, the new owners of Worcester Warriors, has been given a deadline of 2nd May to officially complete the club’s sale.
Begbies Traynor, the former Premiership club’s administrators, has issued a 27-page progress report outlining the work it has done since first being appointed last September.
The report confirms that a 90-day completion clause was part of the sale agreement, meaning that a deadline is approaching for the deal to get over the line.
This 90-day period dates back to when Atlas partners Jim O’Toole and James Sandford saw their consortium bid accepted by Begbies Traynor on 1st February.
O’Toole, previously the ex-Premiership side’s Chief Executive, and business partner Sandford agreed to purchase the rugby union club and its assets, which includes the Sixways Stadium.
Since then, Atlas have withdrawn its application to play in next season’s Championship and attempted a merger with fellow Worcestershire club side Stourbridge, to avoid having to restart too far down English rugby’s pyramid.
The group also planned a rebrand of the club which would have seen the team renamed ‘Sixways Rugby’, but these plans were quickly quashed after a negative response from the fan base.
Then on 18th February, Atlas announced an agreement in principle with another financially stricken former Premiership club, Wasps, to play at the Sixways Stadium next season.
Verbal agreements are also thought to be in place for Warriors’ women’s team and local non-league football side Worcester Raiders to utilise the artificial pitch at the ground.
Since that time, however, the official completion of the sale has yet to materialise.
Now, an official deadline adds the pressure to Atlas as it seeks to tie up the deal before 2nd May. If it fails to meet that date, Begbies Traynor may need to consider alternative buyers.
Former Worcester director of rugby Steve Diamond also bid for the club. Despite his offer being rejected, it has been reported that he is still considering returning to the table through a partnership with former club sponsor Adam Hewitt.
