WORCESTER Warriors chiefs have confirmed the search is on for new investment after weekend press reports suggested the Sixways side was up for sale.
The Rugby Paper reported on Sunday current Sixways owners led by Greg Allen had invited offers after mounting losses which are believed to have totalled £16million over the last three years.
But speaking on behalf of Sixways Holding Limited, chairman Bill Bolsover said any cash injection would be alongside exisiting shareholders.
“The club can confirm it is always seeking further investment to support our existing shareholders and to ensure that the club continues to compete at the highest level in the years ahead,” he said.
“This is part of our ongoing strategy and we are committed to finding the right partner to help take the club forward.
“The club have not set any deadlines on finding the right investor and the shareholders will continue to support the club as they have done for many years.
Edward Griffiths, who joined Warriors in late January as a consultant and the former Saracens chief executive is understood to be leading efforts to buy the club, according to the paper.
He joined as part of a team with director of rugby Gary Gold who secured a one-year deal in April after guiding Worcester to safety.
Allen and Sixways Holding Limted has been the majority shareholder at Sixways since a power shift in 2013 when long time benefactor Cecil Duckworth CBE stepped down to become Executive Chairman. He became the club’s President in 2015.
The news has sparked debate on social media and Warriors fan Neil Clifton tweeted: “No surprise really – why would anyone want to own an business that continually loses money.
“My concern is who would want to invest?”
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