Jim O’Toole, the coordinator of a consortium to buy Worcester Warriors, has submitted a proposal to the Department for Culture, Media and Sport which outlines a long-term funding plan to rescue and stabilize the financially troubled club .
According to a statement compiled over the weekend, this proposal urges DCMS to “immediately” put “affected entities” into administration as players and staff await payroll this month with a pre-season game against the Glasgow Warriors scheduled for Friday in Inverness.
O’Toole also addresses Worcester’s long-term government loan repayment, a debt which has been estimated at £14m, and suggests there will be a “significant contribution” from US partners in the future.
Telegraph Sport revealed James Sandford’s involvement in the consortium trying to take over Worcester last week and the former Irish London lock, founder of medical data firm Atlas SportsTech, has been highlighted as a major influence.
“I can confirm that James Sandford of Atlas SportsTech Limited and I have today submitted a proposal to DCMS regarding the funding and future of Worcester Warriors Rugby Club,” read O’Toole’s statement, seen by Telegraph Sport in the early hours of Sunday. Morning.
“This includes a multi-year operational funding commitment and long-term government loan repayment. The success of this proposal depends on the immediate placement of the entities concerned in the administration, which we have encouraged the DCMS to implement.
“We believe we have a compelling, innovative and robust plan to rethink the club’s business model using available assets as well as the significant contribution of our US partners to ensure the long-term sustainability of professional rugby for the community, the city , and our wider backcountry while ensuring the Duckworth family heritage remains at the heart of the club.
“We look forward to a quick response that would allow us to move forward quickly, and in the best interest of the club’s current staff, supporters and stakeholders. Full details of our US partners will be released in due course.
On Saturday evening, a source familiar with the negotiations said there had been “constant dialogue” with a number of options presented.
All parties remain “very conscious of the timing”, given the proximity of the Premiership campaign and the eagerness to keep the Worcester squad together by paying players. Overall, the mood was “full of hope”, although there is still “a long way to go”. Worcester was asked to comment.