Worcester Warriors owners have set up THIRTEEN companies with links to the club since joining the board in 2018… with Colin Goldring and Jason Whittingham using parts of the network to transfer ownership of the club’s major assets
- The Worcester Warriors owners have set up 13 businesses with links to the club
- Colin Goldring and Jason Whittingham have used the network to transfer assets
- They have carved out Worcester’s money making elements into one business
- The Warriors will be banned from all tournaments starting Monday afternoon
The owners of struggling club Worcester Warriors have created a complex web of 13 companies with links to the club since joining the board in 2018.
In recent months, Colin Goldring and Jason Whittingham have used parts of the network to transfer ownership of the club’s major assets.
Last week it was revealed that the pair have legally carved out Worcester’s money-making elements into one of the separate companies, Sixways Stadium Limited, leaving the rugby club to operate separately. The new company will retain all the club’s income from matchday, hospitality and sponsorships.
The Worcester Warrior owners have set up separate 13 companies with links to the club
Colin Goldring and Jason Whittingham have used the network to transfer ownership assets
Sixways Stadium Limited – set up by Whittingham and Goldring in June – is described at Companies House as “other letting and operation of own or leased real estate”. The company took out two loans last month with the England Sports Council, meaning the council was obliged to sign off on the changes.
There is no suggestion the directors have broken any laws or regulations, but creditors this week expressed concerns about the moves, with one reportedly accusing the government of helping to “asset-strip” the club.
The creditor is said to have asked the English Sports Council to explain ‘why they believed this was in the best interests of the club and the taxpayer?’
Whittingham said that if the details of the transactions were understood correctly, “it would demonstrate that any and all actions have always been in the best interests of the club and the community”.
Worcester Warriors defeated Newcastle Falcons 39-5 today in their last game for a while
Sport England confirmed it had acted as “loan agent for the funding provided by the Government” but said it could not comment on individual cases.
Further analysis by The Mail on Sunday has discovered 12 additional companies set up or run by Whittingham and Goldring and linked to the hit club.
A number of these companies have been used to transfer assets within the group, including moves that split land into separate businesses from the club. Other assets have been sold or mortgaged as the owners struggle with financial difficulties.
Boss Steve Diamond gathered his team together on the field at the end of today’s game
The owners sold the club’s Sixways car park to themselves for just £50,000 in August – the day after being hit with legal action over unpaid taxes. The asset was sold to their company WRFC Trading Limited, the company that runs the club.
The company has been handed a bankruptcy petition by HMRC. The parking agreement was paid for with a loan from Triangle Estate & Petroleum Ltd.
Worcester’s 2020 financial accounts state that the site as a whole had been independently valued at £16.7 million. That estimate includes the stadium, the parking lot and the fields.
Diamond has been determined to keep the club going despite the Warriors hitting rock bottom
Colin Goldring and Jason Whittingham have legitimately carved out elements of one company
The freehold of the stadium and the club’s car park was transferred in August to a company called Mq Property Ltd.
As a result of the transactions, Mq Property Ltd now owns the majority of the land the club sits on, but does not face a winding-up application.
Goldring has previously called accusations of asset stripping ‘completely false’. He said transfers and asset sales had been made to protect the club and enable it to pay staff wages.