Jim O’Toole resigned as CEO of Worcester in June 2017
The Worcester Warriors could be saved from going into administration by following a consortium approach led by former CEO Jim O’Toole.
The Irishman O’Toole, who still lives in the city, told BBC Hereford & Worcester that he had been very interested in an American investor, which would also involve local companies.
The warriors remain in dialogue with HMRC about their unpaid tax bill.
“I just don’t want this city without a professional rugby club,” O’Toole said.
“I still have a huge emotional bond with Worcester and I just want to be able to help in some small way. It’s about saving the club, but in a sustainable way.”
“During the last week I was contacted by an American company that I was working with in a different field of sports marketing.
“They were aware of the situation in Worcester and asked me to put together a consortium of local entrepreneurs who would come with me to acquire the club and create a long-term sustainable business. A mix of international money and some local money. People from Worcester who have in mind the best interests of the club.
O’Toole first joined Worcester in 2015, having previously worked at London Irish, before leaving in 2017.
Since then he has worked as a sports consultant, based in the UK but working with some companies abroad.
The Warriors are currently owned by financier Jason Whittingham and attorney Colin Goldring, who took over the club in December 2018 – six months after being appointed directors at Morecambe in the English Football League, who are not affected by the Warriors’ situation as there is no direct link between the clubs.
If the Warriors are forced to go into administration, they would be the first Premiership club to do so since Richmond in 1999, and would be forced to start the new season with an automatic 35-point penalty, under current Premiership regulations. the RFU.
But O’Toole hopes for a quick conclusion to avoid such a prospect.
“As you can see from last week’s consternation, we are at a very critical stage.
“But our guys are ready to move fast, and if the other side is ready to move that fast, it’s doable. Besides the business opportunity, they’d like to be the good guys who come in and save the day.”
He told the BBC Hereford & Worcester that his proposed consortium “would build on some of the ideas that the current owners had”.
“By the way, they weren’t all bad ideas,” he said. “There are some great ideas around using Sixways assets, but in a slightly different and more sustainable way, making it a decent business, but also a community asset.
“One of the main points of our plan would be that a percentage of the shares would be available to supporters.”
One key factor is that the consortium would like to buy all the land and surrounding area, part of which was sold last week by owners Whittingham and Goldring to another company they own, Mq Property Ltd.
“The assets would have to be in a certain place for it to happen,” O’Toole said. “Not fragmented as they are right now, as I understand it.”
Jim O’Toole was talking to Andrew Easton of BBC Hereford & Worcester.
Source: www.bbc.co.uk