The breakdown in negotiations is a setback for the sport here, as it was hoped the ARL's acquisition of the Warriors would lead to much stronger pathways and better avenues for development, and improved alignment between the NRL operation and the amateur clubs spread across the region.
NZME reported earlier the ARL had begun the due diligence process and started a comprehensive appraisal of assets, liabilities and accounts through an accounting firm.
This was believed to be the final step before a sale and purchase agreement could be negotiated after the parties had apparently resolved a previous gulf between their respective valuations of the club.
"We're very, very disappointed. We spent a lot of time and money in our efforts and, yes we are very disappointed at this outcome. It wasn't what we were hoping for," McGregor said.
"We've indicated to the Warriors that we're open to negotiate with them at any stage [in future].
"Any new owner that does buy the Warriors is going to need and talk to us because we are very much an important part of any long-term success for the Warriors."
Auckland businessman Paul Davys pulled out of negotiations to purchase the club in August, citing a "confusing sale process".
