WASPS have promised to "protect the brand" of Worcester Warriors now that Loxwood Holdings is the majority owner of the club.

The new owners said they had no interest in the property other than for their original purpose of leasing Sixways stadium for five years for a possible return of Wasps. 

Instead, they pledged to 'protect' the club until a 'suitable, qualified entity' is found for the future. 

A notice of 'ceasing to be the person in control' was filed yesterday (Monday, September 18) by Atlas Sportstech Holdings Ltd. 

Loxwood Holdings Ltd, Christopher Holland's company, was made the 'person with significant control'.

READ MORE: Wasps director owns majority Atlas Worcester Warriors share

Christopher Holland is the director of the company, which bought Wasps out of administration.

A statement from Wasps has confirmed that a loan it made was not paid back in time, which led to 97 per cent of shares being transferred to Loxwood.

It said: "As previously reported Loxwood Holdings provided a loan to Atlas Worcester Warriors Limited (AWW) at the beginning of May 2023, solely for the purposes of securing an option to lease Sixways for a possible return of Wasps.

"That option gave the owners of AWW until May 25 2023 to repay the loan, which was secured as a debenture on the company.

"Regrettably AWW have not repaid that loan and therefore their 97 per cent shareholding now rests with Loxwood.

"Whilst that shareholding controls the interest in the long lease of Sixways as well as the IP, brand and chattels of Worcester Warriors, our only interest remains in the option to lease the stadium for five years from May 2024.

"We will protect the interest in the long lease and the IP, brand, and chattels of Worcester Warriors until a suitably qualified entity is identified. 

"We have no interest whatsoever in the property."

READ MORE: Worcester Warriors new majority ownership - What we know so far 

Atlas completed the purchase of WRFC Trading Ltd on May 2 but Administrators Begbies Traynor confirmed last month that there is still £1m left to pay, which must be completed by October 9.

James Sandford and Jim O'Toole are still both listed as directors for 'Atlas Worcester Warriors Rugby Club Limited'.

Jim O'Toole declined to comment on the current situation when contacted by the Worcester News.

The chair of the Warriors Rugby Supporters Club, Bob Low, tweeted "The saga takes another turn" in regard to the latest news about the club.