Article in today's Daily Telegraph.
Wasps and Worcester future thrown into fresh doubt
The future of Wasps and Worcester Warriors have been plunged into fresh doubt after the Rugby Football Union announced neither had met conditions imposed on their new ownership.
The RFU issued a ?final deadline? of February 14 for the stricken clubs to comply hours after Worcester had been sold to buyers whose takeover it had previously refused to approve.
As well as repeating its reasons for vetoing Atlas Worcester Warriors Rugby Football Club Limited?s application for Warriors to re-join the rugby pyramid next season, the RFU revealed Wasps had failed to meet all the conditions imposed on a rescue deal it had provisionally sanctioned.
It said in a statement: ?The RFU has informed the new owners of Wasps RFC, and the administrators of WRFC Trading Limited (the main operating entity of Worcester Warriors RFC) that they have until 14 February to conclude their negotiations and provide evidence that they have met the relevant conditions set. This is a significant extension to the original mid-December timeline to provide the clubs with the best possible chance of being in the Championship next year. However, a final deadline must be set to provide certainty to the Championship and National League clubs, players and other rugby stakeholders over the format of next season.
?In the case of Wasps, the RFU board conditionally approved the takeover, but not all the conditions set have yet been met, including the lodging of a bond and the signing of an agreement which commits the new club to the relevant conditions. Both would need to be done by the deadline for the approval to remain in place.
?The proposed buyers of Worcester Warriors had informed the RFU that they were not prepared to meet the conditions set, which included commitments not to dispose of land around Sixways Stadium without approval and were unable to satisfy the RFU of the sources and sufficiency of funding. The RFU was not able to confirm the suitability of the prospective owners. Therefore, the RFU board was unable to approve their application. If that position changes within the deadline, the RFU will be able to reconsider whether the application can be approved, but if not, then unfortunately the RFU decision will remain the same.?
The statement followed an announcement by Worcester?s administrators, Begbies Traynor, that it had exchanged contracts with Atlas, which is fronted by former Warriors chief executive Jim O?Toole and backed by US investors.
Joint administrator Julie Palmer, who was legally-bound to strike the best deal for the club?s creditors even if that did not involve the return of rugby to Sixways, said: ?Following a complex process, we are now able to progress the sale of Worcester Warriors and associated assets to Atlas Worcester Warriors Rugby Football Club Limited.
?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.?
Make what you will of that.
Always a Wasp
