Playing devil's advocate, is it really bent?Or, does it just sound so?
All the paper had to do was look for directorships for Sarries rugby players, hardly up there with deep throat and Watergate. This is either clever, hiding in plain site, if challenged then the defence that it is so apparent as not to be dodgy. Or, it is just not dodgy.
If Wray has guaranteed loans to a business, not given loans to a player (something the cap rules cover), then there might be nothing technically that is a breach unless the guarantee is called upon. If Fazola pizza Co. makes money and the bank loan is repaid, is there a cap breach?
Not trying to defend the evil empire, just don't want to get too excited yet.
P.s. Happy to be shot down in flames and proven wrong.