UPDATE: Worcester Warriors release statement following weekend revelations

Worcester Warriors have released a statement after it emerged that the club could be sold amid ongoing financial troubles.

Following recent reports regarding the future of the Club, Warriors Chairman Bill Bolsover, speaking on behalf of Sixways Holdings Limited, said: “The Club can confirm it is always seeking further investment to support our existing shareholders and to ensure that the Club continues to compete at the highest level in the years ahead.

“This is part of our ongoing strategy and we are committed to finding the right partner to help take the Club forward.

“The Club have not set any deadlines on finding the right investor and the shareholders will continue to support the Club as they have done for many years.”

The Rugby Paper reported on Sunday that the club have posted 16 million in losses over the last three years and that it is likely owner Greg Allen will now put the club up for sale.

In the 2014/15 season the club posted losses of £5.5million before making further loses of £6.6million in 2015/16. They lost a further £4 million last season.

It is also speculated that former Saracens CEO Edward Griffiths is interested in forming a consortium to buy out the struggling side. Griffiths has been involved with Worcester since January in a consultancy role.

Griffiths departed Saracens after sevens years at the club, an era in which the club began their rise to the top of domestic and European rugby. However the London club also racked up millions of pounds in loses.