Worcester Warriors’ buyers must complete a takeover of the club by May 2, according to a report issued by administrators Begbies Traynor.

The deadline was activated when Atlas, headed by Jim O’Toole and James Sandford, was chosen on Feb. 1 as the new owners over a rival bid from former director of rugby Steve Diamond.

🚨Steve Diamond is ready and waiting to rescue #WorcesterWarriors if the Atlas consortium cannot complete their purchase of the club before the 90-day deadline but they'd need a month to get going, according to sources close to the situation.@CityAM https://t.co/xagJxajrku

— Matt Hardy (@MattHardyJourno) April 18, 2023

Worcester was placed into administration in September for unpaid debts, with the Department for Digital, Culture, Media and Sport their biggest creditor, having loaned the club £14million.

As a result, they were relegated from the Gallagher Premiership, but rather than compete in the Championship next season – due to a dispute over terms with the Rugby Football Union – Atlas announced its plan to merge with semi-professional fourth-tier club, Stourbridge.

If Atlas is unable to make the deadline of next Tuesday, then Begbies Traynor must find a new party to purchase the club’s assets, which includes Sixways Stadium.

In the 27-page progress report published by the administrators, it is revealed that Atlas would not be able to sell Sixways within five years of purchase, if its takeover does proceed.

If the sale fails to go ahead, Atlas will lose a £500,000 non-refundable deposit that was paid on Feb. 1 as an exclusivity fee.

Atlas’ plan to rename Worcester Warriors as Sixways Rugby was abandoned, due to opposition from fans.

The RFU announced in February that it was blocking Worcester’s entry into the Championship on account of Atlas’ failure to prove it met its criteria for inclusion, which includes a fit and proper persons test.

“The RFU has been clear that its priority was to enable Worcester Warriors to play in the Championship and Worcester Warriors Women in the Premier 15s in a sustainable way,” a statement read. “The information required has been asked for repeatedly, and deadlines were extended to provide the best possible chance for this to happen.

“Our priority is to ensure the best interests of rugby and the rugby community are preserved.”