Rufforth Hall, which has been the heart of sports and social activities for General Accident employees for the past 22 years is being sold by the merged York-based company CGU Life.
The 19th century former country residence, bought by General Accident for £70,000 in 1976, is up for sale as part of the enlarged company's "ongoing review of buildings and locations".
It is home to CGU's football, cricket and hockey teams, providing pitches for them to practise and play matches on and additional squash and tennis courts, snooker facilities and a bar.
Some staff have expressed their fears about the sell-off and the women's hockey team published a poster saying: "CGU ladies' hockey team are soon to be without a home, can you help?"
The company's two football teams play in the Leeper Hare football league and need a permanent pitch to practise and play on, but facilities manager Bob Brown said he could assure staff there was no need to worry.
He said: "We need to match current facilities and that would include the financial arrangements as well.
"We are trying to keep staff involved through the whole process through the sports and social committee.
"Some people are unhappy because they don't know what it means in terms of the replacement of facilities.
"People only start to settle down when they know about the new facilities and I think it is unfortunate because we are trying to start a process of change."
Staff currently use Rufforth Hall when they join the sports and social club for a "nominal charge" and Mr Brown said new facilities would be found to provide for all the teams at a comparable price.
He said: "We feel as though we can improve on the facilities that we had at Rufforth Hall.
"This is all part of the overall policy to move CGU forward."
Mr Brown said a "number of options" were being considered in terms of alternative sports and social provision but the company was "in the middle of negotiations" and he could not talk about them yet.
He said staff would find out "within the next couple of weeks" what facilities they would be offered instead.
Situated five miles west of York, the hall was formerly occupied by the Air Officer Commanding the RAF's No.23 group, disbanded in 1974. Mr Brown said it would continue to be used by the company until it was sold.
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