Wasps and Worcester update as club set for liquidation tomorrow

Premiership side Worcester Warriors are suspended from all competitions and face liquidation at the high court on Wednesday. HM Revenue and Customs is pursuing the Warriors for unpaid tax in the region of £6m and is to press ahead with the winding up petition knowing the club under current ownership is in no position to clear the debt. Meanwhile, a more positive statement issued by Wasps Holdings Limited revealed that talks are at “a relatively advanced stage” with possible investors in the face of a winding up order from HM Revenue and Customs for £2m in unpaid tax. “A second notice of intention to appoint administrators has been filed to allow negotiations on securing its long-term future to continue and to protect the interests of the group,” a spokesperson for Wasps Holdings Limited said. “Since filing the original notice of intention on September 21, a number of additional potential investors and funders have come forward. Update on the situation at #WaspsRugby https://t.co/LrYJP9X7jm— Bobby Bridge (@bobby_bridge) October 4, 2022 “Discussions are now at a relatively advanced stage and we remain hopeful of securing a deal that will allow the group, and the entities that sit within it, to move forward. “We would like to thank all stakeholders for their engagement during this process and in particular the constructive support and approach provided by the Rugby Football Union and Premiership Rugby. “This will continue to be vitally important as negotiations with interested parties proceed and we remain in regular dialogue with both organisations. “While the financial circumstances facing the group are extremely challenging, we remain optimistic about a positive outcome and will keep our players, staff, supporters, partners, bond holders and suppliers updated as this process moves forward.” All 13 Premiership Club Owners Ranked By Their Net Worth Gallagher Premiership owners are growing richer than ever before, but how much are they worth? There’s currently trouble at Worcester Warriors, which isn’t awfully surprising when you compare their owners wealth to their Premiership rivals Four clubs have no clear owner: The full list is made up of data from talkSPORT, The Mirror and The Sun. Exeter Chiefs: N/A Club states that it remains owned by 700 members, the shares held by John Lockyer, Bob Staddon, Paul Derbyshire and Ian Pugsley acting as trustees. Leicester Tigers owner: N/A Most recent annual return notes a large number of individual shareholders; club states that no person owns 50% or more of the club shares. Saracens: N/A No overall controlling party following the purchase of the club from Nigel Wray. Northampton Saints owner: N/A No overall controlling party. Now, take a look through the gallery to reveal the estimated net worth of the Gallagher Premiership’s owners and top shareholders. CONTINUES ON PAGE 2 The post Wasps and Worcester update as club set for liquidation tomorrow appeared first on Ruck.

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