06 Sep 2017
Premiership rugby club Worcester Warriors confirms search for ‘new investor’
BY Tom Walker
English Aviva Premiership rugby club Worcester Warriors has confirmed it is looking for fresh investment, following reports that the club has lost more than £15m over the past three seasons.
In a statement, Warriors chair Bill Bolsover said that the introduction of a new investor could ultimately lead to a change of ownership.
The majority share in the club is currently held by Sixways Holdings.
Speaking on behalf of Sixways, Bolsover said: "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.
"This is part of our ongoing strategy and we are committed to finding the right partner to help take the club forward.
"The club has 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.”
Last year, Worcester became the third Premiership Rugby club to lay an artificial pitch at its home ground, Sixways Stadium, as part of a strategy to increase the amount of rugby to be played at the ground.
According to then CEO Jim O’Toole, the plan was to use the pitch to bring in new revenue streams.
“Our stadium pitch is the single most under-utilised asset in the club, currently being used fewer than 100 hours per season,” O’Toole said at the time.
“This development not only allows us to play more rugby at all levels on our biggest physical asset but also allows us to establish new commercial revenue streams such as concerts, festivals and other non-rugby events.”
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