THE OWNERS of Worcester Warriors are planning to sell the club by the end of 2017, according to a national report.

The Aviva Premiership outfit are currently searching for new investment after reportedly losing more than £16million over the last three seasons.

Greg Allen, who represents club owners Sixways Holdings Limited on Warriors’ board, is also understood to be considering walking away.

According to the national report, financial advisors at Livingstone have been appointed to “review strategic and investment options”.

They also understand the club’s bosses are looking for offers by the end of October in a bid to complete a deal by the end of the year.

Warriors reportedly have a market value of £9.7million and are looking to build a hotel at their Sixways site which includes a 11,499-capacity stadium and David Lloyd Leisure Centre.

Speaking to The Worcester News earlier this month, director of rugby Gary Gold said he was aware Warriors’ owners were “not going anywhere”.

Ex-Saracens chief executive Edward Griffiths, who had been rumoured to be considering forming a consortium to take over Warriors, has ended his time as a consultant at Sixways.