Worcester Warriors: no update on Atlas' takeover as deadline passes

The deadline for completion, outlined by administrators Begbies Traynor last week, was May 2 (Tuesday) but there was no word from either party that the takeover had been completed.

Begbies' 27-page progress report last week confirmed that Atlas were appointed at the club on February 1 2023 when they paid an exclusivity fee of £500,000 as a non-refundable deposit, which triggered the start of the 90-day completion period.

But that period is now over and with no update from either Atlas or Begbies on the day the deal was supposed to be finalised, supporters don't seem to be any closer to getting their team back. 

Update: understand staff at Sixways are as in the dark about the situation as the rest of us. A lot of uncertainty over what’s happening now & what might be to come. Can’t imagine we will go another day without an update. #COYW

— Marcello Cossali-Francis (@Mcossalifrancis) May 3, 2023

There has been talk of a possible extension being given to Atlas in order to get this deal over the line, but the Worcester News also understands there are other bidders still waiting in the wings if any deal with Atlas does fall through.

Former Director of Rugby Steve Diamond has insisted on numerous occasions that he is willing to save the rugby club and stump up the cash required to buy them out of administration.

But on Tuesday it was reported that Diamond will now be staying at Edinburgh to lead their pre-season for the 2023/24 campaign, which might indicate that he is losing hope of that idea. 

Sources close to the Worcester News also suggest there are bidders preparing to voice their concerns over the missed deadline via official statements on social media.

Begbies and Atlas have both been approached for comment, but there has been no response as of yet.