Wasps takeover approved but RFU rejects Worcester Warriors rescue deal

Wasps will take their place in the English Championship next season after their takeover was approved by the Rugby Football Union, but Worcester will not be joining them unless they find new buyers.

Atlas Worcester Warriors Rugby Club Ltd, the consortium led by the club's former chief executive Jim O'Toole, has seen its bid rejected on the grounds of its refusal to meet the conditions set by the RFU.

The English game’s governing body said it will instead work with Worcester’s administrator Begbies Traynor to enable alternative bids in the hope of preserving professional rugby at Sixways.

An RFU board meeting on Friday morning ratified the regulatory assessment of the prospective owners, which was undertaken by the 'Club Financial Viability Group’.

Included within this were reviews of financial information, considerations of the bidders and their business plans for the clubs and external background checks in order to understand the level of risk involved.

Wasps and Worcester entered administration earlier in the season, resulting in their expulsion from the Gallagher Premiership.

If approved by the RFU, any new buyers would be able to relaunch the club in the second-tier Championship, thereby ensuring their survival as professional entities.

The consortium seeking to buy Wasps, which includes members of Wasps Legends, were given the green light subject to several conditions being met.

These include financial commitments to ensure that the club remains funded, the lodging of a significant bond and the swift payment of rugby creditors.

However, Worcester’s buyers said they were unwilling to meet the conditions requested of them, including not disposing of the land around the stadium and swift payment of rugby creditors.

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