The sale of Worcester Warriors to the Atlas Group, headed by Jim O’Toole, has been completed. The former Warriors chief executive and his consortium were confirmed as a preferred bidder last year, and it was announced on Wednesday that talks with the club’s administrators are complete, after a deadline set by Begbies Traynor passed on Tuesday.
“We’ve concluded the transaction, and have taken control of the rugby club,” O’Toole said. The deal assures a future for the Warriors after they entered administration last September, with details of their existence still to be confirmed. Their playing squad has long since broken up and it is unclear at which level the club will compete.
A statement read: “Atlas WWRFC are delighted to confirm they have completed on the transaction with the administrators and now look forward to delivering their vision for rugby, the business and the wider community at Sixways.
“Atlas thank Begbies Traynor and their advisors for their collaborative approach, alongside the Warriors fans and wider rugby community for their patience and support … special thanks and recognition must also go to the staff at Sixways who have kept the venue management operation going successfully.”
A merger with Stourbridge and a rebranding as Sixways Rugby were proposed by O’Toole’s consortium before the group withdrew their application to play in next season’s Championship in February. Last month, the Rugby Football Union stated that its regulations “are designed to prevent a club effectively ‘buying’ a league position”.
A merger remains on the table, however. The Stourbridge chairman, Miles Edge, said: “We’ve been very patient waiting for this news … this is the first tick box, and there’s still a fair amount of work to do. Now the transaction has taken place, we move forward with due diligence.”
Stourbridge’s first XV were relegated from National League 2 West this season and would compete in Regional Midlands 1 next season, the fifth tier.
Atlas Group’s statement continued: “Atlas acknowledge they have been quiet in the media until today, having been focused on the complexities of the deal and the various elements required to regenerate a sustainable business for the community of Worcester. They will announce the next fans forum date soon as they push forward to ensure a bright future for all at Sixways.”
Worcester and Wasps have entered administration this season, plunging the Premiership into chaos, with London Irish the latest club to face serious financial jeopardy. The Exiles have failed to pay players and staff wages for April and a meeting was held to discuss the situation on Wednesday.
