One more week for Atlas to complete Worcester Warriors deal

Worcester Warriors’ buyers must complete a takeover of the club by May 2, according to a report issued by administrators Begbies Traynor.

The deadline was set when Atlas, headed by Jim O’Toole and James Sandford, was chosen on February 1 as the new owners over a rival bid from former director of rugby Steve Diamond.

The club went into administration in September for unpaid debts.

As a result Warriors were relegated from the Gallagher Premiership.

If Atlas is unable to make the deadline of next Tuesday then Begbies Traynor must find a new party to purchase the club’s assets, which includes Sixways Stadium.

In the 27-page progress report published by the administrators, it is revealed that Atlas would not be able to sell Sixways within five years of purchase if its takeover does proceed.

If the sale fails to go ahead, Atlas will lose a £500,000 non-refundable deposit that was paid on February 1 as an exclusivity fee.