Saracens has confirmed that it is not going to appeal the recent ruling of the independent panel in relation to salary cap breaches.
Any review or further appeal would be a costly, time consuming and destabilising exercise and so for the good of the game, the Premiership and this wonderful club and all its great people, a club which I have loved and served for 25 years, we have decided not to appeal but to take our punishment and hopefully soon put this behind us.
I recognise that the arrangements between myself and players, made in good faith, which comprise the material element of the charges, should have been brought to the attention of the salary cap manager for consultation prior to entering into them.
It is significant that following extensive investigations the independent panel stated that we have “not deliberately sought to circumvent the regulations” albeit we recognise that some of our actions were considered to be “reckless”.
As chairman, I must take full responsibility for the arrangements that led to this outcome. It is important to stress that our excellent coaching staff were not involved in these issues in any way.
In addition, we can confirm that we are complying strictly with the salary cap regulations in the current season and will continue to work transparently with Premiership Rugby in this regard.
We will shortly introduce robust independent governance measures acceptable to all, including the appointment to the Saracens board of a director, who will oversee a new governance regime. I will continue as always to support the club financially going forwards to ensure there is no financial instability or uncertainty.
This amazing club, which has been such a huge part of my family’s life and indeed of many, many others, has produced an incredible number of world-class rugby players. About ten of our current team have been together for between seven and ten years, as indeed have all the coaches; fourteen players have played over one hundred times for the Club and for me it is the caring and the closeness of everyone in the Saracens Family that achieves success throughout every part of our wide-ranging Saracens activities, both on the field and away from it.
Perhaps we have done the wrong thing for the right reasons, but we must now draw a line and come together as Saracens to fully support our players, our coaches and our hard-working staff.
Why has the Club decided not to appeal the decision?
The Club believes that a review or further appeal would be a costly, time consuming and destabilising exercise. So for the good of the game, the Premiership and this club, we have decided not to appeal but to take our punishment and aim to put this behind us.
What does this mean for the season ahead?
The season ahead will be challenging but Mark McCall, his coaches and players will prepare for all of our games in the same focused, committed way and that will continue to be the case. We are a very tight family and this will only make us closer.
Does this outcome affect any of your Premiership titles?
No. The sanctions do not have an impact on any trophies the team has previously won.
Will the Club now be forced to sell players to comply with the salary cap?
No. The Club allocates a set budget for player remuneration which the CEO and coaching staff take full responsibility for. This budget falls within the salary cap and has no connection whatsoever to third party co-investments.
Is the Club now in compliance with the salary cap?
Yes. Under PRL regulations we are in compliance.
How does this outcome affect the Club’s transfer policy?
It does not prevent the Club from signing new players in the future.
What has the Club done to make sure this doesn’t happen again?
We will now introduce robust independent governance measures acceptable to all, including a new appointment to the Saracens board who will oversee governance.
And longer term, what does this mean for Saracens Chairman Nigel Wray?
Nigel has been involved with the Club for 25 years and his support for the Club remains as strong as ever. He will ensure the Club moves forward from today in the right way as quickly as possible.
Source & Image: www.saracens.com
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