STATEMENT | Saracens take drastic financial action in order to survive

Late on Sunday, Nigel Wray and Chairman Neil Golding spoke to the Saracens squad, coaches and senior staff about the devastating impact the pandemic has had on business across the world.

“I have never in my life experienced anything like this and indeed nor have the rest of us,” Nigel Wray said.

“The devastating wholesale loss of life, the potential destruction of the economy, millions of people out of work, tens of thousands of companies closed down maybe forever and all really because in most recessions demand drops, but it doesn’t drop to zero overnight.”

Saracens will be participating in the government furloughing scheme and in addition have asked players and all employees earning over £75,000 to defer payment of their salaries, over and above this amount, until the start of the 2020/21 season. The amounts deferred will be repaid over an 18-month period from the start of the 2020/21 season.

“COVID-19 has had huge ramifications on every facet of society and rugby is no different, this is not an easy time for the players and the club alike,” Saracens and England international Maro Itoje said.

“But in order to see this through, the whole organisation needs to pull together and do what we can for the future of Saracens RFC and our individual career’s within the sport. We as a playing group would like to send our support and thanks to all of the healthcare workers who are risking their lives for us in the battle against COVID-19.”

Chairman Neil Golding said: “We understand this is really tough for everyone, but the reality is that the only way to survive this unprecedented situation as a club is to make these adjustments.

EDITORS PICKS:

“The board are very optimistic that this is a short-term issue and are taking steps to secure future funding which will put the club on a very sound financial footing.

“We want to continue to grow our brand which extends far beyond the pitch with our incredible Saracens Sport Foundation and Saracens High School. We understand the weight of responsibility that comes with having nurtured one of the greatest rugby clubs in the world and what it means to all our fans.”

Nigel Wray added: “I’m delighted that everyone is pulling together in this crisis. It’s easy being a family in the good times, but Saracens have shown this season there’s a genuine family spirit in the bad times too. I and my family have devoted 25 years to this club, and I believe that once we get through this, we will come out stronger together.”

The full list of who’s going & who’s staying at Saracens

Here’s our changing list of stayers, loaners, likely leavers and confirmed departures at Saracens. 

STAYERS

  • Owen Farrell
  • Maro Itoje
  • Elliot Daly
  • Jamie George
  • Billy Vunipola
  • Mako Vunipola
  • Jackson Wray
  • Brad Barritt
  • Alex Goode
  • Alex Lewington
  • Ali Crossdale
  • Vincent Koch

LIKELY LEAVERS ON PAGE 2