Report in the Daily Telegraph.
Saracens are to be taken over by an investment consortium that includes former World Cup winning-captain Francois Pienaar in a £32 million deal that will secure the long-term future of the club and bring to an end Nigel Wray’s 26-year ownership.
The consortium is headed up by Dominic Silvester, the chief executive of a global insurance company who has had a long-standing connection with the club, and also includes Marco Masotti, the New York-based owner of the Sharks, the South African franchise.
The deal will also see Maggie Alphonsi, the former England Women’s World Cup winner and former Saracens player join the board. It is understood that Michael Yormark, the president of Roc Nation, an entertainment and talent agency founded by Jay-Z, the rapper, will also join the club as a special adviser.
The deal will come as a watershed moment for the club who have won the Premiership five times as well as three European titles but saw their achievements and reputation tarnished by the salary cap breaches over three seasons that saw them relegated to the Championship last season and fined £5.36 million.
Wray’s daughter, Lucy, is to remain as the club’s chief executive but her father will effectively cede all control as the issuing of equity to the consortium will leave him as a minority shareholder and it is understood he intends to be a passive investor with no input to decisions.
The cash injection will enable the club to cover the costs of completing the new west stand development at the StoneX stadium in north London while the investors are keen to develop the women’s team while there is also a longer term goal to build a high performance centre at the complex. Saracens currently train at Old Albanian, a club just north of St Albans.
Wray, who first invested in the club in 1995, had been looking for new investment in the club since it was rocked by the salary cap scandal in 2019, which saw the three times European champions relegated to the champions last season.
He held discussions with executives from private investment firm MSD Capital during the summer but the deal fell through.
The new consortium also includes Paul O'Shea, who works with Silvester, Nick Leslau, a property entrepreneur and current chairman Neil Golding, a partner at law firm Freshfields, who was brought in to replace Wray as chairman 20 months ago overhaul the club following their salary cap sanctions.
The details of the takeover are expected to be announced on Saturday morning before the club’s match against Leicester Tigers. The consortium will then seek approval for the takeover from the Rugby Football Union and Premiership Rugby.
Who are the new key figures
Dominic Silvester
Leading the takeover. Chief executive of Enstar Group, a leading global insurance group, who owns a 10 per cent share of Saracens
Neil Golding
The club's chairman since January 2020 when Wray stepped aside. Also understood to be investing as part of the deal.
Lucy Mercey
Daughter of Nigel Wray and set to continue as Saracens chief executive. Her husband Tom Mercey, the former Northampton prop, is Saracens’ group commercial director.
Marco Masotti
Partner at law firm Paul Weiss and owner of the Sharks rugby team in South Africa. Caused a stir during the Lions series when Rassie Erasmus was charged by World Rugby, with Masotti tweeting: "I have a team of New York lawyers ready to take care of Rassie and SA Rugby. Let us put World Rugby on trial..."
Francois Pienaar
South Africa's first Rugby World Cup-winning captain and former Saracens player, winning the Pilkington Cup. A director of the club since 2008 and part of the new consortium.
Maggie Alphonsi
England's Rugby World Cup-winning flanker and Telegraph Sport columnist who spent her entire career with Saracens and is now set to join the club's board.
Paul O'Shea
Also an executive at Enstar Group since the company's formation in 2001, who was named president five years ago.
Michael Yormark
President of Roc Nation Sports International, the agency founded by Jay-Z and based in London, who has been recruited as a special adviser.
Always a Wasp
