The clever way Saracens owner reportedly gets around the salary cap
Saracens owner Nigel Wray is set to be investigated by Premiership Rugby after it was revealed by the Mail Online that he is currently in business with a number of his England internationals.
Players he is currently partnering with reportedly include England captain Owen Farrell and three other senior members of the squad, raising questions over whether they have broken salary cap regulations.
Have Saracens broken salary cap rules? Owner Nigel Wray shown to be in business with four England stars as Premiership Rugby are set to examine whether club operate within £7m limit https://t.co/lVRIccdW8J | @LauraLambert8 @Matt_Lawton_DM
— MailOnline Sport (@MailSport) March 3, 2019
An investigation currently owns business’ with Billy and Mako Vunipola and Richard Wigglesworth, and has also co-owned houses with former Saracens players.
EXAMPLE (THE VUNIPOLA BROTHERS):
- In early 2017, two separate investment property companies were set up by a business associate of Wray’s and given the names
ShahDanLimited and DanCallie Ltd . Inboth cases, this associate, Daniel van den Heever, was sole director and Wray sole shareholder at the point of incorporation.
- Within three months, the names, directors and shareholders of the companies had changed.
- ShahDan Limited became VunProp Ltd on March 31, 2017, with the two Vunipola brothers becoming joint directors and 33.3 per cent shareholders by the end of April.
England captain Farrell is the most recent player known to have gone into business with Wray.
Less than a month after Farrell signed a contract extension with Saracens in 2017, the financial management firm Faz Investments Ltd was set up by former Saracens director Kamal Shah, with Farrell and Wray as the only shareholders. No accounts have yet been filed.
Premiership Rugby have also declined to comment on the issue at this point in time pending an investiagtion.