Worcester Warriors directors are launching an 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 at fair value
- Begbies Traynor is studying the transfer of assets into separate legal entities
- Worcester owners have split a number of club assets into 12 separate companies
- The firm wants to conclude a quick sale of the club before the next game on October 19
Worcester Warriors directors have launched an investigation into the conduct of club owners and the sale of club assets.
sports mail has learned that Begbies Traynor is studying the transfer of club assets by Colin Goldring and Jason Whittingham into separate legal entities.
The move came as the firm offers to complete a quick sale of the club ahead of the club’s Premiership Rugby Cup game against Exeter Chiefs on October 19.
Worcester owners Colin Goldring and Jason Whittingham are under investigation
Last week, the MoS revealed how Goldring and Whittingham split a number of club assets into a complex network of 12 separate companies.
While there is nothing illegal about asset sales, administrators will carefully consider whether assets have been sold for fair value.
The sales include the club’s Sixways car park, sold for £50,000 in August – the day after the pair were hit with a lawsuit over unpaid taxes.
The owners’ property company has also separated the stadium, training center and players’ car park from other land around the complex, which has been mortgaged by another company called Triangle Petroleum for £600,000, at an interest rate by 20%.
Sales of club assets include Sixways car park, sold for £50,000 in August
Goldring issued a statement refuting the accusation that the club’s owners had stripped their assets.
The statement read: “The accusation that we have been ‘asset stripping’ is completely false.
“All we have done since the Covid lockdown is to make the group more stable and facilitate development to make the club sustainable.”
It is understood that Begbies Traynor has the power to investigate any sale made by the owners in the past two years.