Former CEO Jim O'Toole's Atlas consortium has bought the club
Worcester Warriors have new owners after the club was bought by the Atlas consortium which is headed by the former Premiership side’s ex-chief executive Jim O’Toole.
O’Toole and his business partner James Sandford have been appointed after administrators Begbies Traynon accepted their bid with Atlas Worcester Warriors put in charge of running the club.
Worcester went into administration in September 2022 after receiving a winding-up petition from HMRC the previous month and the club were suspended from all competitions by the RFU. In October, the company that paid the players and staff was wound up in court.
Read more: Worcester Warriors relegated from Premiership
The Atlas consortium initially received preferred bidder status last November but the RFU later rejected that on the basis that there was a lack of information surrounding the funding of the bid.
Feel honoured and privileged to be entrusted with a club that means so much to so many.
We’ll be announcing a date soon for you all to come to Sixways to hear and see the plans for yourselves as we rebuild together.
The real work starts now!#futureisbright #rugby #community https://t.co/X48TAdIGhe
— James Sandford (@JamesSandford4) February 1, 2023
Six months on from the initial offer, Atlas reportedly have beaten off competition Warriors’ former director of rugby Steve Diamond and another two potential bids.
Related: Where have Worcester Warriors’ players moved to?
A statement from Julie Palmer, partner at Begbies Tryanor, read: “We can confirm that contracts have been exchanged with Atlas.
“Following a complex process, we are now able to progress the sale of Worcester. This is an exclusive contractual position and Atlas are committed to completing this transaction as early as possible.
“We are delighted to see that there is a clear plan in place to deliver both rugby and many other exciting community-focused initiatives to Sixways befitting the fabulous facilities.
“We would also like to take this opportunity to congratulate the women’s team who are being readmitted to the Allianz Premier 15s next season.”
For Worcester Warriors to play next season they will need RFU permission and approval after the sport’s governing body in England previously refused to sanction the sale of the club to the same owners.
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