Gloucester's Kingsholm© Photo by David Rogers/Getty Images

Gloucester Rugby are open to offers from prospective new owners.

Reports in the Sunday Times say Gloucester have brought in a company - Cavendish Corporate Finance - to seek out new owners for the club. The club was bought by Tom Walkinshaw in 1997 and in 2008, Martin St Quinton purchased 25% of the club to become one of the two main shareholders.

Following Walkinshaw's death in 2010, his stake was passed on to son Ryan. However, the reports claim a deal for new owners could be struck sooner rather than later. In a statement released on Sunday, Gloucester confirm they have appointed Cavendish to carry out a strategic review of the club and if possible new owners are found, the club would "welcome those discussions".

Gloucester CEO Stephen Vaughan said: "Gloucester Rugby is a well-run club that has demonstrated its commitment to investing heavily in the playing squad in order to achieve the success that everybody associated with the club wants. We make profit on a regular basis, one of a small number of Aviva Premiership clubs to do so, own our own ground, generate income from off-field activities such as conferencing, concerts and other initiatives and are proud to be hosting four Rugby World Cup fixtures later this year.

"Due to this and the continued hard work of staff and support of our members and partners we are able to continue to invest fully in the playing group to give us every chance of success going forward, which is evident from the signings that we have made both ahead of this season and next. We are also fortunate to have owners who have been committed to the club for many years - in the case of the Walkinshaw family, since 1997.

"However, I can confirm that we have asked Cavendish to conduct a strategic review of the club.

"This review will not change our strategy of driving our business so we can continually support our objective of being a top side, both domestically and in Europe, and giving players, coaches, supporters, partners and everybody associated with the club the success that we all work so hard to achieve. If, as part of this review, the right calibre of new ownership is found that can accelerate the club's objectives then we would welcome those discussions."