Worcester’s woes

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TigerFeetSteve
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Re: Worcester’s woes

Post by TigerFeetSteve »

Rugbygramps wrote: Mon Sep 26, 2022 5:19 pm Come up as sky news flash suspended from all competitions. Very sad
Very sad, however likely the best way for the club to survive. If they're now forced into administration the administrators can review asset stripping sales of the ground below price. The owners seem terrified of the level of analysis they face with administration. They seem to want to fold the club and profit selling the ground to developers
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RichG
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Re: Worcester’s woes

Post by RichG »

Of all teams, they are due to play away at Gloucester this weekend! Very sad situation.
TigerLT
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Re: Worcester’s woes

Post by TigerLT »

There was something said, potentially in the papers recently, that if the players were not paid then they are free to find other employers, due to the breach of contract. This would see a mass exodus from the league surely as the cap is now at its lowest point in recent memory.

Is this now the case?
TigerFeetSteve
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Re: Worcester’s woes

Post by TigerFeetSteve »

TigerLT wrote: Mon Sep 26, 2022 5:55 pm There was something said, potentially in the papers recently, that if the players were not paid then they are free to find other employers, due to the breach of contract. This would see a mass exodus from the league surely as the cap is now at its lowest point in recent memory.

Is this now the case?
Not the case at the moment. Players were paid last month.

There is at least one buyer who's said they will cover payroll this month.

Their one requirement is the club go in to administration (same requirement is rumoured for another 2 or 3 buyers) as Administration limits the new buyer's liabilities and grants them security.

IF administration isn't gone into, then I can't see how they complete payroll...
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longlivethecrumbie
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Re: Worcester’s woes

Post by longlivethecrumbie »

TigerFeetSteve wrote: Mon Sep 26, 2022 6:30 pm
TigerLT wrote: Mon Sep 26, 2022 5:55 pm There was something said, potentially in the papers recently, that if the players were not paid then they are free to find other employers, due to the breach of contract. This would see a mass exodus from the league surely as the cap is now at its lowest point in recent memory.

Is this now the case?
Not the case at the moment. Players were paid last month.

There is at least one buyer who's said they will cover payroll this month.

Their one requirement is the club go in to administration (same requirement is rumoured for another 2 or 3 buyers) as Administration limits the new buyer's liabilities and grants them security.

IF administration isn't gone into, then I can't see how they complete payroll...
Now in administration. The DCMS doing the deed.
wigworth
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Re: Worcester’s woes

Post by wigworth »

Does anyone know if the deal from the former CEO Jim O'Toole is still being offered? I believe one of his conditions was that the club had to be placed into administration, which it now has been.
longlivethecrumbie
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Re: Worcester’s woes

Post by longlivethecrumbie »

wigworth wrote: Mon Sep 26, 2022 7:03 pm Does anyone know if the deal from the former CEO Jim O'Toole is still being offered? I believe one of his conditions was that the club had to be placed into administration, which it now has been.
Based on a tweet from one of the suggested business partners, yes.

Annoyingly, this could all have been done weeks ago but the current owners were after something for themselves and hoping to sell and pocket the cash.

Will be interesting what happens with the assets though as they've been hived off to different companies owned by the current owners
TigerFeetSteve
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Re: Worcester’s woes

Post by TigerFeetSteve »

longlivethecrumbie wrote: Mon Sep 26, 2022 7:12 pm
wigworth wrote: Mon Sep 26, 2022 7:03 pm Does anyone know if the deal from the former CEO Jim O'Toole is still being offered? I believe one of his conditions was that the club had to be placed into administration, which it now has been.
Based on a tweet from one of the suggested business partners, yes.

Annoyingly, this could all have been done weeks ago but the current owners were after something for themselves and hoping to sell and pocket the cash.

Will be interesting what happens with the assets though as they've been hived off to different companies owned by the current owners
This is a copy of a tweet of Jim's from yesterday.
For all @WorcsWarriors fans feeling despondent after yesterday’s euphoria, please keep believing.We have a plan & are standing by for the administration trigger to be pulled As soon as that happens the club CAN and we believe WILL be rescued.


As to your other point I think the administrators should be able to ensure all the "sold off" assets aren't stripped from the club
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Wayne Richardson Fan Club
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Re: Worcester’s woes

Post by Wayne Richardson Fan Club »

Let's not forget Worcester owe us all (as taxpayers) a not insignificant amount of money, sad for the employees, chaos for the league, yet again PRL completely useless.
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wigworth
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Re: Worcester’s woes

Post by wigworth »

If they can get the club back together and functioning, maybe with increased oversight from the RFU, do you think there is a possibility that they might just be allowed back into the Prem next season?
westwinds31
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Re: Worcester’s woes

Post by westwinds31 »

Terrible news but it was coming. Best wishes go out to all the players, staff and especially the supporters. A great place to watch rugby, great fans who always gave a warm welcome. Screwed over by 2 idiots. Let’s hope they get back on track soon.
chappie
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Re: Worcester’s woes

Post by chappie »

TigerFeetSteve wrote: Mon Sep 26, 2022 6:30 pm
TigerLT wrote: Mon Sep 26, 2022 5:55 pm There was something said, potentially in the papers recently, that if the players were not paid then they are free to find other employers, due to the breach of contract. This would see a mass exodus from the league surely as the cap is now at its lowest point in recent memory.

Is this now the case?
Not the case at the moment. Players were paid last month.

There is at least one buyer who's said they will cover payroll this month.

Their one requirement is the club go in to administration (same requirement is rumoured for another 2 or 3 buyers) as Administration limits the new buyer's liabilities and grants them security.

IF administration isn't gone into, then I can't see how they complete payroll...
I’ve seen Sky’s coverage of it and they have stated that if nothing is resolved within 14 days then their contracts are worthless and then can seek out other clubs for employment.
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Hot_Charlie
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Re: Worcester’s woes

Post by Hot_Charlie »

chappie wrote: Mon Sep 26, 2022 8:18 pm
TigerFeetSteve wrote: Mon Sep 26, 2022 6:30 pm
TigerLT wrote: Mon Sep 26, 2022 5:55 pm There was something said, potentially in the papers recently, that if the players were not paid then they are free to find other employers, due to the breach of contract. This would see a mass exodus from the league surely as the cap is now at its lowest point in recent memory.

Is this now the case?
Not the case at the moment. Players were paid last month.

There is at least one buyer who's said they will cover payroll this month.

Their one requirement is the club go in to administration (same requirement is rumoured for another 2 or 3 buyers) as Administration limits the new buyer's liabilities and grants them security.

IF administration isn't gone into, then I can't see how they complete payroll...
I’ve seen Sky’s coverage of it and they have stated that if nothing is resolved within 14 days then their contracts are worthless and then can seek out other clubs for employment.
I suspect that's why administration has been sought immediately. The owners have been deprived of any ability to make money from the product, so their game is up.

Hopefully there'll be parties with a ready made deal for the administrators to save the club in the short term almost immediately, which could avoid the contract issue. God knows how the assets are going to be untangled.
TigerFeetSteve
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Re: Worcester’s woes

Post by TigerFeetSteve »

Used to run around with an 11, 14 or 15 on my back.
longlivethecrumbie
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Re: Worcester’s woes

Post by longlivethecrumbie »

It'll come as no surprise that the media were told before the staff knew.
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