ADMINISTRATORS are optimistic the efforts to save Worcester Warriors are back on track.  

Julie Palmer, Begbies Traynor's joint administrator, has provided an update after Jim O'Toole's consortium was confirmed as the preferred bidder to buy the club.  

She said: "I am pleased to announce that we have entered into a preferred bidder agreement with Atlas Worcester Warriors Rugby Club Limited to acquire the rugby club together with the stadium and surrounding land.

"The acquiring consortium represented by Jim O’Toole and James Sandford is fully committed to moving as quickly as possible to satisfy the criteria of RFU and PRL that they are fully funded to take the club forward with the ambition of returning to the Premiership as soon as possible.

"This remains a complex transaction with pressing deadlines but I am hopeful that all stakeholders will move with the requisite speed to rescue this club which has excellent facilities, strong community ties and huge potential.

"I would also like to record my heartfelt thanks to the dedicated and hardworking staff who have helped us to stage a programme of none rugby events in the coming weeks and provided invaluable assistance to the Joint Administrators."

The Jim O'Toole consortium, which involves American investment beat a rival bid from ex-Warriors boss Steve Diamond to buy out the club

O'Toole first joined Worcester in 2015, having previously worked at London Irish, before departing in 2017.

Bromsgrove Advertiser: BIDDER: Jim O'Toole's consortium has been chosen as the preferred bidder BIDDER: Jim O'Toole's consortium has been chosen as the preferred bidder (Image: Newsquest)

Previously he told BBC more about the bid saying: "There was an approach from some local businessmen here in Worcester to see if there was anything we could do to save the club.

"Which tied in nicely with some work I was doing with a former colleague from London Irish, James Sanford (CEO of Atlas Sports tech), we were advising an American company on some plans to launch a service they are launching in the UK."

Announcing the move in a tweet Mr O'Toole wrote: "Exciting news. 

Bromsgrove Advertiser: RIVAL: Steve Diamond had led a rival consortiumRIVAL: Steve Diamond had led a rival consortium (Image: JMP)

"Thanks to Julie Palmer and Begbies Traynor for believing in us over the past weeks. 

"We will share the full vision, plan and team once the contractual negotiation phase is complete."

Mr O'Toole added that they would be making no further comment.