Nigel Wray has resigned from his role as chairman of Saracens with immediate effect.
Wray 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 rugby club. I will always be committed to the wonderful Saracens family.
“The Wray family will continue to provide the required financial support to the Club, and I will remain actively engaged in the work of the Saracens Sport Foundation and Saracens High School, as part of the Club’s ongoing commitment to our community in north London.”
The club have confirmed that a new independent chairman will be appointed imminently while Edward Griffiths will take up the role of interim CEO for a 12-month period. Mitesh Velani will assume a consultancy position at the club and remain on the Saracens board.
Wray resignation comes off the back of much off-field controversy as the club received a 35-points deduction and £5 million fine for breaching the Premiership salary cap in the 2016-17, 2017-18 and 2018-19 seasons by failing to disclose payments to players.
Saracens currently find themselves at the bottom of the Premiership table, 18 points behind 11th-placed Leicester Tigers.