English Premiership rugby union club Worcester Warriors have sought to end speculation regarding their future at Sixways stadium following the completion of a takeover deal.
The Warriors have been up for sale for the past year and chairman Bill Bolsover in November failed to rule out a move from their 11,500-capacity home in the event new owners came in.
The Warriors have now said they are under new ownership following a successful sale from Sixways Holdings Limited to a consortium led by Errol Pope, a finance specialist in property and commodity trading.
The Warriors said the new owners are committed to keeping the club at Sixways and have plans to further develop the site to generate additional income, with the intentions of making the club self-sustainable.
Bolsover, who will remain on the board, said: “Having met with numerous potential new owners and investors we have found long-term owners who are capable of taking the club to the next level.
“Our search has been extensive and the whole process has been a thorough one to ensure we found the right owners who have the backing to take this club forward.
“The new owners have that backing and, with it, a clear vision to ensure Warriors can achieve long-term success and become one of the top clubs in the Gallagher Premiership.”
Following Saturday’s 28-11 defeat to Exeter Chiefs the Warriors sit 10th in the 12-team Premiership. A recent report in The Guardian newspaper said the Warriors recorded pre-tax losses of over £8m (€9m/$10.4m) for the 2016-17 season, the highest in the league.