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Saracens owner claims transparency over salary cap

Saracens owner Nigel Wray suggests the club is 'open and transparent' over dealings concerning the salary cap. 

According to the Daily Mail, their inves­tiga­tion alluded to a number of business arrangements with high earning players at the club.

The club suggested they 'readily comply' with the leagues authorities regarding salaries.

"If any of our players have a sound commercial idea, I am interested and I may invest," said Wray.

In a statement on Monday, he continued: "I recognise that in some quarters, these co-investments are perceived as part of the Premiership salary regulations. They are not. Investment is not salary. Investments go up and down. It's an opportunity and a risk.

"It might be immodest to say this but between the board and some hugely generous supporters our players have access to some of the best investment advice available anywhere in the country and we are all happy to share this for everyone's benefit.

"The club is open and transparent with the salary cap manager and we proactively disclose co-investments when they occur, even though we are under no obligation to do so."

Players who have business dealings with the club are said to be winger Chris Wyles, former captain Al Hargreaves and current captain Brad Barritt.

Premiership Rugby said they would be looking to investigate, to determine if there is a breach of regulations.

Due to the clubs amount of home grown players in their squad (nearly 60%) Saracens are claiming they are permitted to spend more then the £7m salary cap that is currently in place. 

Planning permission has been granted to add a new West Stand at Allianz Park, in the off season.

Posted in Club news and tagged Saracens, salary cap, rugby union on