Worcester Warriors could be sold...soon
PREMIERSHIP NEWS: Financially troubled Premiership side Worcester Warriors are poised to put up for sale, according to media reports.
According to The Rugby Paper reports the club have posted £16 million (ZAR 268 million, NZD 29 million) in losses over the last three years and that it is likely owner Greg Allen will now put the club up for sale.
In the 2014/15 season, the club posted losses of £5.5million before making further losses of £6.6million in 2015/16. They lost a further £4 million last season.
It is also speculated that former Saracens CEO Edward Griffiths is interested in forming a consortium to buy out the struggling side. Griffiths has been involved with Worcester since January in a consultancy role.
Griffiths departed Saracens after sevens years at the club, an era in which the club began their rise to the top of domestic and European rugby. However, the London club also racked up millions of pounds in losses.
Worcester Rugby Football Club dates back to 1871 and owes its foundations to the cleric Rev Francis John Eld.
In 2013 Dean Ryan was appointed Director of Rugby, but Ryan couldn’t prevent relegation during his first season.
In 2014 Warriors were promoted back to the Premiership after two nail-biting tries against Bristol Rugby in the Greene King IPA Championship final.
However last season – despite big name signing like Francois Hougaard and Ben Te’o – they were once again involved in a relegation battle with Bristol.