Premiership Rugby have confirmed that Saracens will be relegated from the top flight at the end of the 2019/2020 Premiership season.
Saracens are the reigning Premiership champions in addition to being holders of the Champions Cup but will start next season in the RFU Championship.
The club was fined £5 million in November and deducted 35 points for failing to stay below the cap and confirmed that they would once again be exceeding it this season.
Darren Childs, chief executive of Premiership Rugby, released the following statement surrounding the news: “Premiership Rugby is prepared to take strong action to enforce the regulations governing fair competition between our clubs.
“At the conclusion of dialogue with Saracens about their compliance with the Salary Cap Regulations, it has been decided that Saracens will be relegated at the end of this season.
“At the same as enforcing the existing regulations, we want to ensure a level playing field for all clubs in the future, which is why we have asked Lord Myners to carry out an independently-led review of the Salary Cap.”
Neil Golding, chairman of Saracens, said: ‘As the new chairman of Saracens I acknowledge the club has made errors in the past and we unreservedly apologise for those mistakes.
‘I and the rest of the board are committed to overseeing stringent new governance measures to ensure regulatory compliance going forward.’