WORCESTER Warriors' current owners have confirmed that terms have been agreed on the sale of the rugby club to an interested party.

A club statement revealed that the Heads of Terms are now with the legal representatives of the parties involved to confirm the details of the agreement. 

The new buyers have deposited a significant amount of cash into the club's accounts in order for this Sunday's Gallagher Premiership game with Exeter to go ahead.

The University of Worcester Warriors Allianz Cup tie with Harlequins will also be able to go ahead.

The club have said that more news will be provided to club staff and the public on Wednesday. It is not yet known who the interested party is.

Jim O'Toole and James Sandford were the one pair who were publicly interested in leading a consortium to buy the club.

They had expressed on Monday that they had the money to save Warriors but insisted the club needed to enter administration for them to be able to do so.

You would think they are now out of the picture in the circumstances.

The statement on the Warriors website reads: "Warriors can confirm that owners Colin Goldring and Jason Whittingham have agreed the terms of the sale of the club to an interested party.

"The Heads of Terms are now with the legal representatives of the respective parties who are going through the detail of the agreement.

"As of 5pm on Tuesday September 13 the Heads of Terms have yet to be signed.

"In the meantime, we have been working closely with the interested party on the immediate deposit of significant funds which will allow Sunday’s Gallagher Premiership match against Exeter Chiefs at Sixways and Saturday’s Allianz Cup tie between University of Worcester Warriors and Harlequins to go ahead as scheduled.

"We will provide a further update both on the sale of the club and this weekend’s matches on Wednesday."