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We Need to talk about Worcester

EdBirch

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Well the 2pm announcement never happened, another false promise except this one was made on BT Sport. Realistically feel we could be without a club come 7th Oct. No clue who the mystery buyer is or if they even exist. Need to work out a game to get to before it all falls apart
 

die_mole

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Well the 2pm announcement never happened, another false promise except this one was made on BT Sport. Realistically feel we could be without a club come 7th Oct. No clue who the mystery buyer is or if they even exist. Need to work out a game to get to before it all falls apart
honestly I think think the club will exist after the winding up and they will play out the season with a points deduction. I just hope they get bought by a rich person who loves rugby instead of a VC who thinks they can make some money.
 

Crash Hamster

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"The team announcement has been delayed subject to the processing by the RFU of the necessary paperwork
for a number of loan players who are likely to be named in Warriors' matchday squad."

As I said earlier, turn up in a Worcester top and take a pair of boots... Doesn't look like (m)any of the contracted players are turning out.
 

Bada-Bing!

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honestly I think think the club will exist after the winding up and they will play out the season with a points deduction. I just hope they get bought by a rich person who loves rugby instead of a VC who thinks they can make some money.
If company running the club ends up getting wound up it will be difficult to see how the Club continues, especially if staff and players aren’t getting paid until assets are realised to pay off outstanding liabilities.

Without a buyer to provide funds, the company would have to be put into administration to enable the club to continue and that’ll require a court order and an administrator to be appointed to effectively run the club. I am not sure of the specific rules of the Premiership in this situation but as you said surely a points deduction.

I am also assuming any tv and sponsorship money, plus match day revenues are not sufficient to cover ongoing running costs seeing as staff aren’t getting paid. Just a crazy situation.

And That’s the issue with mixing sport and business. The two really shouldn’t if owners want to make a healthy profit.
 

die_mole

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I think what’s most likely is that one party buys all the assets in the liquidation and the create a new company that operates the club. Whether the premiership lets them play the season I think is fair debate which should include fair play, financial, and moral arguments. I think due to the fact everyone planned on having x amount of games they’ll let the phoenix club play.

What happens in their share of premiership rugby if they liquidate?
 

Bada-Bing!

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I think what’s most likely is that one party buys all the assets in the liquidation and the create a new company that operates the club. Whether the premiership lets them play the season I think is fair debate which should include fair play, financial, and moral arguments. I think due to the fact everyone planned on having x amount of games they’ll let the phoenix club play.

What happens in their share of premiership rugby if they liquidate?
Yeh, that’s the issue. If the buyer is waiting for it to get to the liquidation stage and buy Worcester’s assets on the cheap. But that would screw Worcester RFC in the meantime and can’t operate as a going concern and I am sure Premiership would have to act.

Their “share” of premiership rugby - presumably the TV rights etc which are intangible assets. And Will will need to be valued and sold off as part of any liquidation process.

But I think more likely it’ll get to administration before getting to a liquidation stage if these so called buyers back out.
 

Old Hooker

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5 guests named in a 22 man squad (no-one in the 19 shirt) including a 37 year old retired deaf international who literally lives across the road from Kingsholm and a 41 year old academy backs coach.

Obviously a lot of sympathy for those involved, but this whole situation is pretty embarrassing.
 

TRF_Olyy

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Surprised Dimes isn't packing down in the front row
 

die_mole

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