The South Africans who own 50 percent of Premiership club Saracens have made their stake available for sale, according to reports in England.
The Times have reported that the group, led by businessman Johann Rupert, are prepared to cut their losses and walk away from the venture, writing off a debt of around £25m in the process.
Fellow co-owner Nigel Wray could, it is claimed, buy the remaining half of the club to maintain short term stability and consistensy, but the report goes on to allege that he would rather keep the door open to further investment in the reigning Champions Cup holders in the longer term, with redevelopment of parts of Allianz Park seen as a big priority.
Sarries have been very successful on the pitch in he decade-long period that the South African investors have been at the helm, but it has come at an off-field cost. In a league that has caused some concern with the amount of clubs that find themselves in the red (and are crying out for investment as a result), Saracens recorded a loss of over £2.5m last year.
The news comes hot on the heels of Saracens’ disappointing conclusion to their European season. They relinquished their title on Sunday, losing 30-19 to Leinster in the Champions Cup quarter final. In the Premiership, meanwhile, they find themselves in second place, trailing defending champions Exter Chiefs by eight points.