Worcester Warriors’ co-owners have agreed terms with an undisclosed buyer for the financially stricken Premiership club, it’s been announced.
In a club statement, Worcester said the terms of the agreement are still being scrutinised by the respective legal teams and it had yet to be signed.
The struggling side have debts of more than £25million, including £6million in unpaid tax, and face administration if they can’t find a new buyer.
Lost opener to London Irish
However, Tuesday’s update that an agreement is now in the hands of lawyers suggests an end to their woes is near as their first home game looms.
“We have been working closely with the interested party on the immediate deposit of significant funds which will allow Sunday’s Premiership match against Exeter at Sixways and Saturday’s Allianz Cup tie between University of Worcester Warriors and Harlequins to go ahead as scheduled,” a Worcester statement read.
“We will provide a further update both on the sale of the club and this weekend’s matches on Wednesday.”
Doesn’t want a “false dawn”
Director of rugby Steve Diamond did reveal on Saturday that co-owners Colin Goldring and Jason Whittingham were in negotiations with a prospective buyer.
However, Diamond was wary of another “false dawn” at the Premiership outfit, who have struggled to pay the wages of players and staff this past month.
Any deal will have to be ratified by the Rugby Football Union, however, amid calls for a more stringent fit and proper persons test to be introduced.