Nigel Wray denies Saracens salary-cap wrongdoing and defends investments made with players
Monday 11 March 2019 12:23, UK
Saracens owner Nigel Wray has denied any wrongdoing over Premiership salary-cap regulations and defended his right to invest in commercial ideas his players have.
Wray faced accusations of potentially breaching the league's salary cap last week when his involvement in businesses with Saracens and England players Owen Farrell, Richard Wigglesworth and brothers Billy and Mako Vunipola was initially revealed by the Daily Mail.
Premiership Rugby are investigating the reports, but Wray issued a lengthy statement on Monday reiterating a previous club release that they are in total compliance with regulations, and detailing past and current investments he has made.
Wray wrote: "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.
"We respect the rules and the salary regulations that are in place.
"Our success is built on the strength of our Academy and the incredible efforts of the Academy staff are often overlooked.
"Of our current squad, 57 per cent is home-grown talent, the highest in the league, contributing towards the £1.2m in credits we receive from PRL which, incidentally, makes our salary cap higher than most.
"If any of our players have a sound commercial idea, I am interested and I may invest. The least I will do is offer advice.
"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.
"As a club, we want and actively encourage all of our players to consider their futures beyond playing the sport we all love.
"A professional rugby career can be short-lived and we have a responsibility to educate, prepare and support all of our players in carving alternative career pathways for their lives after rugby. We are a club that cares."
