Former Worcester Warriors chief executive Jim O’Toole says he has submitted a bid to secure the long-term future of the club.
But the club would need to be placed into administration for his plan to succeed, he added.
Irishman O’Toole is one of a number of parties to have declared their interest in buying the Warriors.
The Premiership club have been served a winding-up petition by HMRC over unpaid tax, believed to be more than £6m.
They also received a £14m loan from the Department for Digital, Culture, Media and Sport (DCMS) during the Covid pandemic.
Sports consultant O’Toole, who was at Worcester from 2015 to 2017, issued a statement on Sunday saying he had approached the DCMS with a proposal “regarding the funding and future of Worcester Warriors rugby club”.
He said he had made the proposal alongside US investor James Sandford.
The statement added: “This includes a commitment to multi-year operational funding and to meeting the repayment of the long-term government loan.
