ON a day of numerous twists and turns, administrators Begbies Traynor will once again listen to offers to buy Worcester Warriors out of administration.
It comes after news on Friday that the Rugby Football Union had rejected the American consortium’s bid, fronted by Jim O’Toole and James Sandford, to buy the club due to 'insufficient information' over funding.
Atlas Worcester Warriors Rugby Limited (O'Toole and Sandford's consortium) stated on Thursday that the RFU were being 'oppresive' in their approach to scrutinise and intervene in the groups' aim to save the club.
They said the RFU were wanting to impose 'onerous operational conditions, commercial restrictions and barriers' on the consortium, who have been held up in their plans to purchase the club due to the RFU's own delay in the fit and proper director's test.
Friction within that relationship ultimately ended any hope that Warriors would play again next season, so the administrators have now been forced to act quickly to try and preserve rugby next season.
They will now welcome discussions with any interested parties, which would include former director of rugby Steve Diamond.
Begbies said: "The Joint Administrators/Receivers are willing to re-enter into discussions with any interested parties, although they will first need to satisfy the RFU’s takeover process given the conditions being placed on any proposed purchase," a statement read.
"We await confirmation from the RFU on the relevant timelines for them to reach this position given the urgency of the matter. This must include total clarity on the rugby creditor position given the very late notice of an additional material claim from the PRL which other interested parties were not aware of.
"The Joint Administrators statutory duty is to maximise the return to creditors. Therefore, any offer from interested parties must equal or exceed the offer made by Atlas Worcester Warriors who we were informed were able to proceed on an outright purchase of the business and assets excluding the P share.
"We received notice that the P share option price is being exercised by means of the call option and can confirm that the accepted offer would have resulted in the best return to creditors.
"We urge the relevant stakeholders to work collaboratively and in a timely manner with all interested parties (including Atlas Worcester Warriors) to ensure that elite rugby remains in Worcester.
"We have also offered an urgent meeting over the weekend between the RFU and Atlas Worcester Warriors to try and resolve the position. Both of these parties have made it consistently clear that they remain committed to returning rugby to Worcester which extends to the Women’s team."
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