Wray steps down as chair of basement club Saracens

Saracens have announced that Nigel Wray has decided to retire as club chairman with immediate effect.

The reigning Gallagher Premiership champions received a 35-point deduction and were fined more than £5 million in November for breaching league salary cap regulations.

Saracens say that a new independent chairman will be “appointed imminently”.

Wray, pictured, has provided financial backing for Saracens throughout the sport’s 25-year professional era. And he says his family will “continue to provide the required financial support to the club”.

In a statement released by Saracens, Wray, 71, said: “As we enter a new year, a new decade, it is time for the club to make a fresh start. I am not getting any younger and feel this is the right moment for me to stand down as chairman and just enjoy being a fan of this incredible club.

“The Wray family will continue to provide the required financial support to the club.”

Wray’s tenure saw a level of sustained success on domestic and European stages, with numerous players gaining international honours and starring at Test level, such as England trio Owen Farrell, Maro Itoje and Billy Vunipola. Saracens, though, are battling to stay in the top flight this term following the points deduction for breaching salary cap regulations in the 2016-17, 2017-18 and 2018-19 seasons by failing to disclose payments to players following an inquiry into business partnerships between Wray and players.

They now sit bottom of the table, 18 points adrift.