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Friday, June 14, 2024

Premiership Rugby Team Dismantled Over Debts

  • The Worcester Warriors players and staff have been freed to sign with other teams.
  • The Premiership Rugby team has millions in unpaid debts.
Worcester-Warriors
Worcester Warriors

Financial issues have sunk a top-division rugby club in England.

The Worcester Warriors’ players and staff had their contracts terminated on Wednesday as a result of a court order.

  • Worcester reportedly has $6.7 million in unpaid taxes being pursued by the HM Revenue and Customs, the United Kingdom’s tax collection department.
  • The Premiership Rugby team went under administration last month after not meeting a deadline to demonstrate to the Rugby Football Union that it was financially sustainable.
  • The team has been relegated to the RFU Championship.

The team also owes a reported $16.7 million to the Department for Culture, Media, and Sport as part of a $138.2 million sum lent to Premiership Rugby teams for pandemic relief measures.

Players are free to sign with other clubs, and some have already done so.

Wandering Warriors

“As the club no longer has staff and players on contract, and with many seeking alternative employment, the decision has been made to focus on how the club can be viable over the long term,” the RFU explained.

Begbies Traynor, a firm that specializes in corporate restructuring, is acting as the club’s administrator. The RFU said that the firm is “in discussions with several potential investors.”

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