Saracens owner Nigel Wray agrees to SELL controlling stake to consortium
Saracens owner Nigel Wray agrees to SELL controlling stake to consortium – including World Cup-winning captain Francois Pienaar – which will invest £32m into the Premiership club
- Saracens have confirmed an agreement for a £32million takeover deal
- The consortium includes ex-Saracens’ Francois Pienaar and Maggie Alphonsi
- The move should help with the club’s rebuilding project from the Championship
- Saracens were given a 35-point deduction for breaching the league’s salary caps
Saracens owner Nigel Wray has agreed to sell a controlling stake to a consortium which plans to invest £32million in the Gallagher Premiership club.
The consortium includes World Cup-winning captain Francois Pienaar, while another former Saracen, Maggie Alphonsi, has agreed to join the board.
Saracens were given a 35-point deduction in 2019 for breaching the league’s salary caps after a Sportsmail investigation and were relegated from the Premiership at the end of the 2019-20 season, but won promotion back.
Saracens owner Nigel Wray has agreed to sell a controlling stake to a consortium
Former Saracens and South African World Cup winning captain Francois Pienaar is involved in the consortium
A statement on the club’s official website said: ‘Saracens is delighted to announce that a consortium of investors has agreed terms to acquire a majority controlling stake and that the club’s shareholders will invest significant new funds by means of a capital raise.’
Wray said: ‘I have given my heart and soul to the club for more than two decades, having chaired Saracens since the first days of professionalism.
‘Sadly, I’m not getting any younger and I have always wanted to make sure that Saracens is in very safe hands for many future generations.’
According to Sky News, Wray’s daughter, Lucy, will continue to run the club as CEO but the family will retain just a minority stake in the business.
Former Saracens and England flanker Maggie Alphonsi has also agreed to join the board
Saracens returned to the Premiership with a victory against Bristol Bears last month
The consortium also includes property entrepreneur Nick Leslau, insurance excutive Paul O’Shea and South African Sharks owner Marco Masotti.
The move should help with the club’s rebuilding project from the Championship, with the shareholders reportedly ready to invest £30m into the women’s team, stadium developments and training facilities.
Roc Nation, the agency belonging to rap star Jay Z, are also behind the deal, with president Michael Yormark set to join as a special adviser.