Saracens insist their only failing was a “minor internal oversight” after Premiership Rugby announced they will investigate whether the club had breached salary cap regulations.
It was revealed last month by the Daily Mail that Sarries chairman Nigel Wray has co-investment arrangements with leading players such as Owen Farrell, the Vunipola brothers Mako and Billy, Maro Itoje and Richard Wigglesworth.
Wray and the club were steadfast in their belief that they had broken no rules regarding the £7million salary cap that all clubs must stick to but Premiership Rugby released a statement last night revealing they would be investigated.
It read: “Under the regulations, clubs are required to supply information to the Premiership Rugby salary cap manager on any arrangements between a connected party and a player which might constitute payment or a benefit in kind.
“Saracens had not at the time of recent media speculation shared with the salary cap manager details of all the co-investment arrangements between connected parties and players.
“The information now received from the club and various parties will be reviewed.”
Saracens issued an immediate response, saying: “Unprompted, we invited Premiership Rugby’s salary cap manager into the club to openly discuss matters related to player salaries.
“Whilst co-investments are not part of the salary regulations, we disclosed these transactions in good faith and indeed divulged more information than was necessary. Separately, following a minor internal oversight, Premiership Rugby was provided with details relating to some of these agreements.
“We remain confident that we comply with the salary regulations and will continue to support the entrepreneurial spirit and future of our players.”
Sarries have been the Premiership’s dominant force, winning the league in three of the last four seasons. They are well placed to make the final once more.
