Atlas handed extension to complete Worcester Warriors purchase

The group was announced as its new owners in May, having paid £2m to complete the purchase, however it was required to pay another £1m at the start of this week (9 October). Then Wasps owner took over as a majority shareholder at Atlas.

Despite this, Begbies Traynor says that – although Holland has now replaced original owners Jim O’Toole and James Sandford – the sale is being conducted under the name Atlas Worcester Warriors.  

Speaking to BBC Hereford and Worcester, Begbies Traynor spokesperson Julie Palmer said: “Atlas Worcester Warriors Rugby Club Ltd purchased the business and assets of WRFC Trading Ltd (in administration) on 2 May. The consideration payable on completion was £2,050,000. 

“The deferred consideration was originally payable over a two-year period. However, the deferred consideration payment date was varied to 9 October as a result of commercial negotiations. 

“The purchaser is focused on finalising this aspect in short order and the deadline will be afforded some flexibility to enable this. The deferred consideration is payable by Atlas Worcester Warriors Rugby Club Ltd and not any other party.

“There is unlikely to be any further material development until the assets of community value nomination for the land at Sixways has been resolved.”