(Reuters) – A consortium of investors has agreed terms to acquire a majority controlling stake in Premiership side Saracens for 32 million pounds ($43 million), the club said on Saturday. Saracens, four times Premiership champions and three times European Cup winners in the last five years, were relegated last season as punishment for multiple salary cap breaches. The club said the consortium comprises club chairman Neil Golding and Dominic Silvester and Paul O’Shea from Enstar Group, a global insurance group. Nigel Wray, who was the club’s owner for more than 25 years, said he would be retaining a “significant minority shareholding”. “We move on from the recent challenges with hard lessons learned and with robust new governance procedures in place,” Golding said in a statement.

Source: MetroXpress October 02, 2021 10:30 UTC