WORCESTER Warriors have revealed in a letter sent to potential rugby creditors that payments will be 'phased over a period of time'.
As reported by The Daily Mail, Worcester Warriors have told their creditors that payments will 'take some time'. Removing all debts is a condition of their return to next year's 14-team second tier.
The club officially announced their return to Rugby Football Union competition for next season at a press event held at Sixways Stadium on Thursday, April 3.
Speaking at the event, owner Chris Holland said: "We are really pleased to be bringing rugby back to Worcester and have made significant progress in stabilising the Sixways business as well as successfully navigating the detailed application process for entry of the club into the second tier of professional rugby in England.
"After careful consideration we chose to make the application to the new league under the name Worcester Warriors to preserve its history and legacy. As a result, we are required to settle rugby creditors and acknowledge and fully own this process and the responsibility that comes with it.
"We now enter a defined period in which to provide financial guarantees, and to identify, validate and agree all inherited rugby creditors. The completion of this process is the key to success and requires the collective support of all involved. We are committed to resolving this quickly."
His recent letter to creditors read: "We do not have unlimited resources and we need to ensure we can return financially stable rugby to Worcester. With your support and understanding, payments to accepted rugby creditors will be phased over a period of time.
"If payments are not phased, we may not be in a position to pay any accepted rugby creditors or return elite level rugby to Worcester."
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Mr Holland also offered Worcester's rugby creditors the opportunity to go without repayment entirely and donate their owed money to aid the revival of the club.
If this option is chosen, they will be invited to a players lunch in thanks.
Next season's 14-team Championship will consist of the 12 current teams in the second tier, alongside Warriors and the National League One champions - Richmond.
