Wray takes full control of Saracens

Tue, 03 Apr 2018 13:20
Large mark mccall and nigel wray 2016 800

REACTION: Nigel Wray dismissed claims Saracens are up for sale as "rubbish" as he has assumed total control of the European Champions Cup holders following Johann Rupert's decision to end his financial support.

Wray, who has spent more than £40m of his own personal fortune on the club, will pay an undisclosed sum to Rupert's South African based Remgro company and has confirmed he has already received expressions of interest from new investors willing to pump an estimated £30m into the Premiership club which lost to Leinster in the Champions Cup quarter-finals in Dublin.

Rupert jointly funded the £20m East Stand at Allianz Park with Wray, the club chairman and longest-serving Premiership owner, who is adamant that plans for the new West Stand are unaffected by the South African's departure. Work on the stand, which will include new changing rooms, is scheduled to begin before the start of next season. Saracens' annual losses have been falling for the last three years – it was £2.5m last year- and Wray expects the club to be in profit in around two year's time.

Wray said: "Saracens are not for sale – that's rubbish. Remgro are a billion pound company and the investment in the club is relatively tiny and they want to reduce that and I am going to buy their share. They have been fantastic partners and we will keep a relationship going because we want more South African players. Saracens will survive for a hundred years but I am not and so you have to create sustainability. We have major ambitions for one of the best club brands in the World.

"I am now the 100 percent owner and I have already got people expressing an interest and we will see how it evolves because there is no rush. Remgro put money into the club and that will be the case again because I haven't sold any shares. Any money goes to the club to make it better, not me; this is a love affair but it's not a blind love affair. I believe in what we are doing at the club and the family we have created and I have never added up what I have spent. Our losses are coming down every year

"The West Stand is going to cost £22m which is a shedload of money but we have had offers of finance to fund it and it would be a normal banking arrangement. Hopefully, building could start before next season. We are creating something meaningful in the community and the school we have funded is opening in September and we are more than just a rugby club."

Sarries will continue links with Rupert's company which as an interest in the Stormers Super Rugby franchise who have supplied key players such as Schalk Burger, Michael Rhodes and Schalk Brits to the first team squad.

By Chris Jones, @RugbyPass

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Fri, 27 April 2018
Hurricanes v Sunwolves 07h35 Wellington
Stormers v Rebels 13h00 Newlands
Leicester Tigers v Newcastle Falcons 18h45 Welford Road
Sat, 28 April 2018
Reds v Lions 05h05 Suncorp Stadium
Blues v Jaguares 07h35 Eden Park
Brumbies v Crusaders 09h45 Canberra
Kings v Cheetahs 13h00 Nelson Mandela Bay Stadium
Exeter Chiefs v Sale Sharks 14h00 Sandy Park
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Gloucester v Bath 14h00 Kingsholm
Connacht v Leinster 14h05 Sportsground
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Cardiff Blues v Ospreys 16h35 Cardiff Arms Park
Munster v Ulster 16h35 Thomond Park
Edinburgh v Glasgow Warriors 18h35 Myreside
Sun, 29 April 2018
London Irish v Saracens 14h00 Madejski Stadium
Wasps v Northampton Saints 14h00 Ricoh Arena
RESULT SCORE
Sun, 22 April 2018
Racing Metro v Munster 27 | 22
Brumbies v Jaguares 20 | 25
Sat, 21 April 2018
Ulster v Glasgow Warriors 36 | 15
Zebre v Ospreys 37 | 14
Sharks v Stormers 24 | 17
Leinster v Scarlets 38 | 16
Bulls v Rebels 28 | 10
Reds v Chiefs 12 | 36
Crusaders v Sunwolves 33 | 11
Fri, 20 April 2018
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Blues v Highlanders 16 | 34
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Saracens v Bath 41 | 6
London Irish v Exeter Chiefs 5 | 45
Sat, 14 April 2018
Leinster v Treviso 15 | 17
Kings v Cardiff Blues 12 | 45
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Team P W D L Pts
Exeter Chiefs 20 15 0 5 75
Saracens 20 14 0 6 67
Wasps 20 12 1 7 61
Newcastle Falcons 20 13 0 7 59
Leicester Tigers 20 2 0 8 57
Gloucester 20 11 1 8 56
Sale Sharks 20 10 0 10 54
Bath 20 9 0 11 46
Harlequins 20 7 0 13 36
Northampton Saints 20 7 0 13 36
Worcester Warriors 20 6 0 14 31
London Irish 20 3 0 17 22