Worcester Warriors: Atlas appointed new owners at Sixways
The process has taken months following the club's collapse.
A consortium led by former Worcester Warriors chief executive Jim O'Toole has been named as the new owners of the club.
O'Toole and his business partner James Sandford have had their bid to buy the club accepted by administrators Begbies Traynor.
It comes after months of negotiations between administrators and interested parties.
A statement from Julie Palmer, partner at Begbies Traynor, said: “Following a complex process, we are now able to progress the sale of Worcester Warriors and associated assets to Atlas Worcester Warriors Rugby Football Club Limited ("Atlas").
“We can confirm that contracts have been exchanged with Atlas. This is an exclusive contractual position and Atlas are committed to completing this transaction as early as possible and will share with both the rugby community and local community their plans for the Club’s future.
“Due to the confidential nature of this transaction, we have been unable to provide this update any earlier but have appreciated the ongoing interest of supporters, staff and related organisations.
“We are delighted to see that there is a clear plan in place to deliver both rugby and many other exciting community-focused initiatives to Sixways befitting the fabulous facilities and which will entertain the extensive support base.
“We would also like to take this opportunity to congratulate the women’s team who are being readmitted to the Allianz Premier 15s next season.”
It will be welcome news for fans, players and all those associated with Warriors, with the process taking almost six months.
The club entered into administration in September last year, with debts totalling more than £30million.