Worcester’s administrators have selected former Warriors chief executive Jim O’Toole’s consortium as their preferred bidders for the relegated Premiership club.
The club can now start to prepare for life in the Championship next season after they were suspended and relegated from the Premiership.
O’Toole and Sandford confirmed the news in a statement on Sunday.
“This is a positive and major step in the process,” it said.
“As has always been, a focus remains on retaining an elite-level rugby club, based on a viable long-term strategic business model at Sixways, for the immediate benefit of the community of Worcestershire and beyond into the wider game of rugby.
“The process remains complex, needs complete confidentiality and will require our full attention until it runs its course.”
The pair will make no further comment at this time.
PREMIERSHIP CLUBS RANKED BY TOTAL DEBT:
#13. Exeter Chiefs – £13m
#12. Gloucester – £27m
#11. Northampton Saints £26.5m
#10. Worcester Warriors – £26.5m
