{"id":316,"date":"2023-09-18T13:47:41","date_gmt":"2023-09-18T17:47:41","guid":{"rendered":"https:\/\/newssprinters.com\/index.php\/sport\/chris-holland-wasps-owners-firm-becomes-worcester-warriors-majority-shareholder\/18\/09\/2023\/"},"modified":"2023-09-18T13:47:41","modified_gmt":"2023-09-18T17:47:41","slug":"chris-holland-wasps-owners-firm-becomes-worcester-warriors-majority-shareholder","status":"publish","type":"post","link":"https:\/\/newssprinters.com\/index.php\/sport\/chris-holland-wasps-owners-firm-becomes-worcester-warriors-majority-shareholder\/18\/09\/2023\/","title":{"rendered":"Chris Holland: Wasps owner’s firm becomes Worcester Warriors majority shareholder"},"content":{"rendered":"

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Sixways has been Worcester Warriors’ home since 1998<\/figcaption><\/figure>\n

Wasps owner Chris Holland has become the majority shareholder in Worcester Warriors, reports BBC Hereford & Worcester. <\/span><\/p>\n

Atlas is led by former Warriors chief executive Jim O’Toole and ex-London Irish player James Sandford.<\/span><\/p>\n

They <\/span>announced a \u00a32.05m deal<\/span><\/a> to buy the club in May. <\/span><\/p>\n

However, Worcester have <\/span>remained in administration<\/span><\/a>, with Atlas required to pay a further \u00a31.18m by 9 October and having yet to complete their purchase of the club’s Sixways Stadium and the surrounding land.<\/span><\/p>\n

Both Wasps and Worcester were expelled from the Premiership last season after going into administration because of financial problems. <\/span><\/p>\n

Atlas have a licence to use Sixways as their trading premises – and it will be occupied by Premiership Women’s Rugby side Warriors Women and non-league football club Worcester Raiders in 2023-24.<\/span><\/p>\n

In May, Loxwood Holdings <\/span>made a loan to Atlas<\/span><\/a> to help secure a lease for Wasps to play Championship rugby at Sixways.<\/span><\/p>\n

Wasps confirmed in a statement that playing at Sixways was an option but insisted it has “no interest at all in the property other than a lease to play first-class rugby in the stadium”.<\/span><\/p>\n

Mr O’Toole told BBC Hereford & Worcester at the time: “It is a security of tenure deposit for Wasps to play at Sixways.”<\/span><\/p>\n

He did not wish to comment when asked by the station about the newest developments.<\/span><\/p>\n

Neither Worcester nor Wasps registered with the Rugby Football Union to compete in the 2023-24 season. The earliest either could compete again is September 2024.<\/span><\/p>\n

Analysis <\/h3>\n

BBC Hereford & Worcester political reporter James Pearson<\/em><\/p>\n

In a nutshell it seems Jim O’Toole and James Sandford, the driving forces behind the purchase of Worcester Warriors as a company back in May, are no longer shareholders in the club – though on paper they remain directors. <\/span><\/p>\n

According to an update on Companies House – posted on Monday – they sold their shares in the newly-formed Atlas Worcester Warriors Rugby Club Limited back in June. <\/span><\/p>\n

Instead we have now have a new majority shareholder – 97% of Worcester Warriors is now owned by a company called Loxwood Holdings Limited.<\/span><\/p>\n

That’s a company that’s owned by Chris Holland, the current owner and director of Wasps. This isn’t the first involvement between the owner of Wasps and Warriors. <\/span><\/p>\n

Back in May, through his company Loxwood Holdings, Holland gave Atlas a loan to help secure a three-year lease for Wasps to play Championship rugby at Sixways. <\/span><\/p>\n

That didn’t materialise but that loan was secured against the land and stadium at Sixways, though at the time Wasps denied any interest in developing the property. <\/span><\/p>\n

So it appears we now have Wasps’ owner as majority shareholder of Worcester Warriors, with some security on the land and stadium, and seemingly in the driving seat for Worcester Warriors’ future. <\/span><\/p>\n<\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sixways has been Worcester Warriors’ home since 1998 Wasps owner Chris Holland has become the majority shareholder in Worcester Warriors, reports BBC