Worcester Warriors is now controlled by Sixways Holding Limited (SHL), a non-profit entity which will offer significant future investment into the club.
SHL will invest in the Warriors Academy, first-team squad and support staff and is also committed to enhancing local rugby as well as community and charitable causes.
The club’s recruitment of Director of Rugby Dean Ryan and High Performance Director Nick Johnston, was a key part of this process as SHL recognised the importance of future investment to help the club achieve long-term success.
SHL, which together with its predecessor Hockley has funded the club for the last six years, will be represented on the Warriors Board by chartered accountant and investment consultant Greg Allen.
Allen said: “I have a real passion for Warriors and look forward to seeing the club grow over the next decade into a top European side.
“I know the Directors and the Board’s Chairman Anthony Glossop very well and look forward to working closely with them going forward. I would like to thank Anthony for stepping in as an Interim Chief Executive while the club is recruiting.”
Despite Warriors’ relegation, Allen has reassured supporters that the club is now in a strong position to be successful under Director of Rugby Dean Ryan.
He continued: “When Dean was recruited we knew that relegation was a possibility. We didn’t look for quick fixes that might ultimately impact the overall plan to grow from the academy up.
“Relegation is a blip but the focus has always been about ensuring the club experiences long-term success.
“We feel the club is in a far better position than it was a year ago. We will have a younger, stronger squad next season with a larger, more experienced coaching and support team and a new Academy in place.
“For the first time in the last six years we feel the club is in a great position to become a top European side.
“There has been significantly more investment this year than ever before, and there will be more investment next year despite being in the Championship.”
With Warriors hosting a Supporters’ Evening on Thursday night, Allen has appealed for fans to continue supporting the side after a difficult season.
He added: “We realise that being a Warriors fan hasn’t been easy during these last few years but we hope that all the loyal supporters will stick by the club.
“The club has started a new journey and we’re very confident that, with Dean at the helm as well as the additional investment, we will see Warriors become a title-challenging Premiership side in the future.
“There are exciting times ahead for Warriors supporters despite the unfortunate results this season and the long-term plan is very much on track.”