Warriors’ owners replaced to enable potential buyers to move forwards

Following its suspension from the RFU, the administrators of Worcester Warriors have announced the club’s owners have been replaced.

Colin Goldring and Jason Whittingham have been replaced as directors of MQ Property Co Ltd by Stuart Maddison as the sole director. Maddison is a former partner of PwC with more than 33 years experience in turnaround and restructuring matters.

Julie Palmer, Julian Pitts and Andrew Hook of Begbies Traynor have now been confirmed as joint administrators over WRFC Trading Ltd, receivers over Sixways Stadium and receivers over the shares together with any other Fixed Security Assets of Worcester Sports Limited.

A statement from them read: “This is an important step in being able to deliver the full suite of assets comprising the trading entity, the stadium and the surrounding land to enable a purchaser to move forwards with a well-funded proposition to ensure the future success of professional rugby in Worcester.
“We remain in active and constructive discussions with interested parties.”

The news has been welcomed by the city’s MP, Robin Walker.

He said: “After such a horrible day yesterday, some cheering news from Begbies today that they have secured the land – crucial and hopefully a major step forward to securing new investment, well done.”

A high court judge took 22 seconds yesterday to instruct that WRFC Players ltd, which holds player and staff contracts, should be wound up, resulting in contracts being immediately terminated.

Ted Hill, Ollie Lawrence, Fergus Lee-Warner and Valeriy Morozov have now gone out on loan to Bath, with more players expected to depart the club.