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The Government stand accused by some creditors of aiding the asset-stripping of Worcester Warriors which has put the future of the rugby club in doubt.
Sportsmail has learned the details of a major change to Worcester’s tenancy at Sixways Stadium that was approved by public body Sport England last month, with owners Colin Goldring and Jason Whittingham transferring ownership of the ground to a new company which will retain all of the club’s matchday, hospitality and sponsorship income.
It appears the extraordinary move has jeopardised the proposed sale of the club, threatened the livelihoods of businesses and put £15million of taxpayers’ money at risk.
Goldring and Whittingham appear to have lawfully carved off Worcester’s money-making elements into a separate company, Sixways Stadium Limited, leaving the rugby club to operate separately in a move endorsed by Sport England.
As a result, they have been left without their main sources of income and no way of paying off debts of almost £30m.
The owners have been trying to sell the club for most of the summer but despite claims of interested parties, a deal has not happened.
The Government stand accused by some creditors of aiding the asset-stripping of Worcester
Well-placed sources indicated yesterday that the process of reaching a legal ‘heads of terms’ agreement with buyers has been hindered by the owners’ desire to retain a 15 per cent stake.
The club’s home opener against Exeter last Sunday was in doubt until the 11th hour, and it is unclear whether they will be able to fulfil
