Bid to save premiership club from administration led by former CEO
Worcester Warriors could be saved from going into administration following an approach from a consortium led by former chief executive Jim O’Toole.
O’Toole has told the BBC that he has had serious interest from an American investor which would also involve local businesses.
Warriors remain in dialogue with HMRC over their unpaid tax bill.
“I just don’t want this city without a professional rugby club,” O’Toole told the BBC.
“I still have a big emotional attachment to Worcester and I just want to be able to help in some small way. It’s about saving the club, but in a sustainable fashion.
“Over the last week I have been contacted by an American business that I was doing some work with in a different sports marketing field.
“They were aware of the Worcester situation and have asked me to put together a consortium of local business people who would come in with me to acquire the club and create a long-term and sustainable business. A mix of some international money and some local Worcester people who have the best interests of the club at heart.”
Media reports over recent days have suggested the possibility of the club being put into administration this week after the company running Warriors’ operations, WRFC Trading Limited, was handed a winding-up petition by HMRC last Tuesday.
The company’s accounts for 2020 show it had yet to pay £2.3m in taxes and its 2021 accounts are now overdue.
The current figure for unpaid tax has been reported by some newspapers as being as high as £6m.
Warriors, along with many other businesses and most sports clubs, have been under pressure due to the Covid-19 pandemic and the rise in the cost of living.
The club retained its staff but lost income during the various lockdowns during which the overwhelming majority of matches were played behind closed doors.