EAs BBC - Squad May Be Dismantled

[MarleyWasp]

Two things strike me here..IF true.

Firstly, I thought the players would all half their salaries as they love the club so much and play for the shirt, not the cheque.
Secondly, If they are 8only8 650k over as they say, then even just a 10% sweep would cover that...which you'd have thought the players would go for as a group. Tells me they'd be well over 650k if that couldnt be accomplished.

It was always going to be the question wasnt it. If your unable to offload to another team, how can you reduce cap as players have contracts..other than through pay cuts.
Please make this so...

I guess that if they haven't cut the salary bill 4/11ths into the season, and they were £650M over the cap at the beginning of the season, then they'd have to cut £1,137M now, to get under it by the end of the season.  With players under contract, I don't see how that's going to happen.  My maths might be wrong but I don't think my logic is.

On the basis that they're £650k over, with the salary cap year being in its seventh month, they'd need to offload players on a combined annual salary of £1,560,000. That's before you factor in redundancy packages.

I struggle to see how they can do it without spiking several player's drinks with cocaine and then calling in UK Anti-Doping...

[Neils]

This suggests the owners were quiet for a reason. It was said in November that their January meeting would be crucial and it looks like being that way.

Also was the much quote figure of £650k not just the trigger point and the transgression may well be well over that figure. Thus the levelling up necessary could be far more.

[mike909]

This suggests the owners were quiet for a reason. It was said in November that their January meeting would be crucial and it looks like being that way.

Also was the much quote figure of £650k not just the trigger point and the transgression may well be well over that figure. Thus the levelling up necessary could be far more.

As I suggested (blind guessed...) above, perhaps co investments and off shored image rights etc all add up a bit.....

[RobAWasp]

This really is the only way for justice to be seen to be done. Good riddance.

[Neils]

From The i -

Saracens owner Nigel Wray courts investors and resigns as club director
Exclusive: Wray cuts all formal ties with Premiership and European champions as fallout from salary cap breach continues
By David Parsley and Hugh Godwin
Thursday, 16th January 2020, 6:15 pm
Updated
43 minutes ago


Nigel Wray has cut all formal ties with Saracens and its parent company as he courts potential investors to buy at least a 50 per cent stake in the club, i can reveal.

With reports last night suggesting that the club are on the brink of immediate relegation after failing the meet salary-cap rules this season also – although a source close to the club told i “nothing is finalised” – Companies House filings show Wray has resigned as a ­director of Saracens and its parent company Premier Team Holdings.

Wray stepped down as chairman of the club earlier this month, and the latest move means he no longer has formal links to Saracens, other than through his family.
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Internal sources have told i that Wray is looking for new investment, but that the Wray family would ­remain co-investors and continue to support the club financially.

Any new investors would need to match Wray’s long-term vision for Saracens, built up over the 25 years he has been involved.

While the amount by which he is willing to dilute his family’s ownership has not yet been agreed, it is expected he is willing to sell at least half. This newspaper has also learned that Wray, 71, is no longer the main shareholder of Saracens.

In another Companies House filing for Premier Team Holdings, which owns just under 90 per cent of the London-based club, Wray is not listed as a shareholder.

The filings confirm he transferred his ownership to the Edna Wray Grandchildren’s Accumulation & Maintenance Trust, of which the two main beneficiaries are Wray’s two children – Lucy, who sits on the board of Saracens, and her brother Joseph, who is head of sales at ­another Wray family company MBN Events.
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Before transferring the shares to his children’s trust in November 2018, Wray had bought out a 50 per cent share held by South African group Remgro after it decided to pull its backing in April 2018.

Last November, Premiership Rugby’s investigation led to a ­deduction of 35 points from ­Saracens for the current season, and a £5.36 million fine after the club was found in breach of the salary cap over the past three seasons.

One club insider said: “The transfer of the shares to the trust pre-dates and is unconnected to the salary cap investigation.

“As for any sale of the club, the Wray family is open to external investment. It was, after all, 50 per cent owned by Remgro until they sold out to Nigel. What is certain is that the Wray family will remain co-investors, and are committed to supporting the club financially.”

Premiership Rugby has stated its investigation into Saracens lasted for nine months, from autumn 2018 until charges were brought in June 2019.

Industry analysts believe that the future worth of the club and its shares will be linked to broadcast and rights deals ­arranged by the Premiership’s new ­commercial investors, CVC Capital Partners.

[Chilham]

Two things strike me here..IF true.

Firstly, I thought the players would all half their salaries as they love the club so much and play for the shirt, not the cheque.
Secondly, If they are 8only8 650k over as they say, then even just a 10% sweep would cover that...which you'd have thought the players would go for as a group. Tells me they'd be well over 650k if that couldnt be accomplished.

It was always going to be the question wasnt it. If your unable to offload to another team, how can you reduce cap as players have contracts..other than through pay cuts.
Please make this so...

I guess that if they haven't cut the salary bill 4/11ths into the season, and they were £650M over the cap at the beginning of the season, then they'd have to cut £1,137M now, to get under it by the end of the season.  With players under contract, I don't see how that's going to happen.  My maths might be wrong but I don't think my logic is.

On the basis that they're £650k over, with the salary cap year being in its seventh month, they'd need to offload players on a combined annual salary of £1,560,000. That's before you factor in redundancy packages.

I struggle to see how they can do it without spiking several player's drinks with cocaine and then calling in UK Anti-Doping...

Of course, it's time (seven months), not matches (8 of 22+). 

[wasps]

So, with Wray no longer being chairman or a director, are his co investments suddenly legal?

Or could it be that they were made while he was chairmen and director they're still included in the cap?
If so, what would happen if he started a new co investment now as someone not involved in Saracens? Would that make new investments legal?


There's some lawyers somewhere rubbing their hands together

[Neils]

The article in the Times (other thread) says Wray was against opening the books (something more to hide?) and now he personally has gone but not the family.

[matelot22]

Is there a salary cap in the Championship?

No.

[WickedWasp]

This weeks podcast rugby on and off the ball is worth a listen with George Kruis. First time I have heard an interview where its said how it is and not fluffed up chat between to pals.

[mike909]

Latest "excuse"

England would be the big losers if they are relegated and the squad breaks up. Some of the big names might have to look to France to get the sort of salaries they now earn and the national set up would lose the benefit of them playing regularly together for the same club. Plenty of people are clamouring for fairness and justice but it could come at a cost to national success.

So cheating's ok if it benefits the national side......ffs

[Tervueren]

Sadly, I can see the players agree to a pay-cut and avoid the drop, where else can they go for the remainder of the season?

If not though, perhaps ED did go to Sarries for lower pay and the chance to compete for silverware. Presuming there is a championship trophy.

[Rifleman Harris]

Two things strike me here..IF true.

Firstly, I thought the players would all half their salaries as they love the club so much and play for the shirt, not the cheque.
Secondly, If they are 8only8 650k over as they say, then even just a 10% sweep would cover that...which you'd have thought the players would go for as a group. Tells me they'd be well over 650k if that couldnt be accomplished.

It was always going to be the question wasnt it. If your unable to offload to another team, how can you reduce cap as players have contracts..other than through pay cuts.
Please make this so...

I guess that if they haven't cut the salary bill 4/11ths into the season, and they were £650M over the cap at the beginning of the season, then they'd have to cut £1,137M now, to get under it by the end of the season.  With players under contract, I don't see how that's going to happen.  My maths might be wrong but I don't think my logic is.

On the basis that they're £650k over, with the salary cap year being in its seventh month, they'd need to offload players on a combined annual salary of £1,560,000. That's before you factor in redundancy packages.

I struggle to see how they can do it without spiking several player's drinks with cocaine and then calling in UK Anti-Doping...

Of course, it's time (seven months), not matches (8 of 22+).

If the figures in the Times are anything like correct then they are going to need to find about double that as they were £1.3m over last season.

For what it's worth, I think the players will take the pay cut (although it will be massive) and then Wray will pay them off on the side.

[baldpaul101]

Some of the big names might have to look to France to get the sort of salaries they now earn

So how can Sarries have been paying them such high salaries legally if they can only match them by going to France?
And what happened to the bollox of "players go to Sarries on lower salaries for the silverware"
If that's true, they will all stay in the championship & fight for their promotion surely?

I am not yet celebrating, yet, theres a lot of bargaining to come before anything is decided.

But, if the England contingent call on their relegation get out clauses, who would we like to sign for Wasps?

[DGP Wasp]

Latest "excuse"

England would be the big losers if they are relegated and the squad breaks up. Some of the big names might have to look to France to get the sort of salaries they now earn and the national set up would lose the benefit of them playing regularly together for the same club. Plenty of people are clamouring for fairness and justice but it could come at a cost to national success.

So cheating's ok if it benefits the national side......ffs

So if Mo Farah or Bradley Wiggins are found to have been on drugs during London 2012, then that's OK, because it was to the benefit of the British Olympic team and the overall success of the London Olympics?  Glad that's been cleared up.