Monday 4 September 2017 10:44, UK
Worcester have confirmed their search for new investors, with former Saracens chief executive Ed Griffiths rumoured to be interested in underscoring a takeover bid.
Worcester director Greg Allen has bankrolled the club since Cecil Duckworth stood back in 2013 but the Warriors are expected to post losses that could run to £16m for the last three years.
Worcester confirmed in a statement that they are seeking fresh investment and that could ultimately lead to a change of ownership from Sixways Holdings Ltd, the company represented by Allen on the Aviva Premiership club's board.
Griffiths joined Worcester on a consultancy basis in January and could now look to help form a consortium to buy the Sixways outfit.
"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," said Worcester chairman Bill Bolsover in a statement.
"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."
International stars like Ben Te'o and Francois Hougaard have been brought in as Worcester have fought for top-flight stability.
Rugby director Gary Gold helped Worcester avoid relegation last term, with ex-Saracens administrator Griffiths also working off the field.
