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Saracens: Consortium acquires controlling stake in Gallagher Premiership membership for £32m | Rugby Union Information

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Nigel Wray, who was the membership’s proprietor for greater than 25 years, will probably be retaining a “vital minority shareholding”; he mentioned in an announcement: “I am not getting any youthful and I’ve all the time wished to ensure that Saracens is in very secure arms for a lot of future generations”

Final Up to date: 02/10/21 11:55am

A consortium of buyers has agreed phrases to amass a majority controlling stake in Premiership facet Saracens for £32m, the membership mentioned on Saturday.

Saracens, 4 instances Premiership champions and 3 times European Cup winners within the final 5 years, had been relegated in 2020 as punishment for a number of wage cap breaches. However they returned to the highest flight after profitable final season’s second-tier Championship.

The membership mentioned the consortium contains membership chairman Neil Golding and Dominic Silvester and Paul O’Shea from Enstar Group, a world insurance coverage group.

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South African former World Cup-winning captain and Saracens participant Francois Pienaar, Nick Leslau, the chairman and chief government of Prestbury Funding Holdings, and Marco Masotti, an proprietor of South Africa’s Sharks rugby group, are additionally within the consortium. One other former Saracen, Maggie Alphonsi, has agreed to affix the board.

Nigel Wray, who was the membership’s proprietor for greater than 25 years, mentioned he could be retaining a “vital minority shareholding”.

“I am not getting any youthful and I’ve all the time wished to ensure that Saracens is in very secure arms for a lot of future generations,” he mentioned in an announcement.

The membership mentioned the takeover is topic to regulatory approval. The brand new funds could be used to finish the redevelopment of the West Stand on the membership’s StoneX Stadium, spend money on girls’s sport and set up a excessive efficiency coaching centre, it mentioned.

“We transfer on from the current challenges with onerous classes realized and with strong new governance procedures in place,” Golding mentioned in an announcement.





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