Saracens have confirmed that they will not seek a review of the decision of an independent disciplinary panel which resulted in the club being deducted 35 league points and fined £5,360,272.31.
The panel found that Saracens had breached Premiership salary cap regulations in the seasons 2016-17, 2017-18 and 2018-19. Specifically, the panel found that the club failed to disclose payment to players and exceeded the ceiling for payments to senior players in each of the three seasons.
This outcome was the result of a nine-month investigation.
Darren Childs, Chief Executive of Premiership Rugby, said: “We welcome Saracens’ decision to accept the verdict of the independent panel and are pleased the club has crucially reaffirmed its commitment to the Premiership Rugby Salary Cap.
“This is the right outcome for English club rugby. Bringing this process to a conclusion means that we can focus on working in partnership with all Clubs to continue to build a competitive and successful league.”
Nigel Wray, Saracens chairman, said: “We have made mistakes and so, with humility, we must accept these penalties. As a club, we will now pull together and meet the challenges that lie ahead.
“We confirm our commitment to the Salary Cap, and the underlying principle of a level playing field, and will continue to work transparently with Premiership Rugby in this regard.”
Saracens are now bottom of the Premiership table on -22 points.