Worcester Warriors administrators launch investigation into the conduct and sale of club assets by owners Colin Goldring and Jason Whittingham into separate legal entities and whether they were sold for a fair value
- Begbies Traynor looking into the movement of assets into separate legal entities
- Worcester owners have split a number of club assets into 12 separate companies
- Firm want to conclude a rapid sale of the club before next game on October 19
Worcester Warriors administrators have launched an investigation into the conduct of the club’s owners and the sale of club assets.
Sportsmail has learned Begbies Traynor are looking into the movement of club assets by Colin Goldring and Jason Whittingham into separate legal entities.
The move came as the firm bid to conclude a rapid sale of the club before the club’s Premiership Rugby Cup game against Exeter Chiefs on 19 October.
Worcester owners Colin Goldring and Jason Whittingham are being investigated
Last week the MoS revealed how Goldring and Whittingham split a number of club assets into a complicated web of 12 separate companies.
While there was nothing illegal in the asset sales, the administrators will look carefully at whether the assets were sold for a fair value.
Sales include the club’s Sixways car park, sold off for £50,000 in August — the day after the pair were hit by legal action over unpaid taxes.
The owners’ property company also separated the stadium, training centre and players’ car park from other land around the complex, which was mortgaged off to another company called Triangle Petroleum for £600,000, at an interest rate of 20 per cent.
Sales of the club’s assets include the Sixways car park, sold off for £50,000 in August
Goldring has issued a statement rebutting the accusation that the club owners had been asset stripping.
The statement read: ‘The accusation that we have been “asset stripping” is completely false.
‘Everything we have been doing since the Covid lockdown is to make the group more stable and to facilitate the development to make the club sustainable.’
It is understood Begbies Traynor have the power to investigate any sale struck by the owners over the last two years.