ADMINISTRATORS Begbies Traynor have confirmed they have granted Atlas an extension in which to complete their purchase of Worcester Warriors.
Begbies confirmed in a letter to creditors in August that the period of administration had been extended to October 9, in which the remaining half of the money owed must be paid.
The sale of Sixways Stadium and the surrounding land was completed in May, but Begbies remain "in office" as they await the remaining funds from Atlas (Jim O'Toole and James Sandford).
They were told by Begbies to pay the rest of the £2.05m (£1.18m left to pay) before the purchase is financially complete.
But Begbies have today, October 9, confirmed that a further extension has been granted.
In a statement, they said "flexibility has been afforded" so that Atlas can complete their purchase of Sixays and the surrounding land.
Warriors' administrators Begbies Traynor say they will give Atlas "flexibility" to finish the payments. Statement below.
— BBC Hereford & Worcester (@bbchw) October 9, 2023
It comes after a change of ownership of Atlas, with a firm controlled by Wasps owner Chris Holland now its majority shareholder. 2/2 pic.twitter.com/HHzFbSZOsm
Begbies began work at Sixways back in September 2022 when the club went into administration and O'Toole and Sandford have been the preferred bidders since February 2023.
Last month it was revealed that a firm controlled by Wasps owner Chris Holland now owns a majority share in Atlas' company, which is part of the reasoning behind giving Atlas more time to complete.
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