Nigel Wray has ended the uncertainty surrounding Saracens’ short term future by reclaiming full control of the club.
A report in the Times on Tuesday morning had alleged that Sarries co-owners, South African group Remgro, were looking to relinquish their 50% stake in the Premiership side off the back of financial losses in the past few years.
The report went on to suggest that Wray buying the investors out was a viable short term option – and, according to the Telegraph, that has now come to fruition.
Wray is quoted as saying:
“Remgro has been a fantastic shareholder in Saracens for the last nine years and, as shareholders do, they have decided to reduce their shareholding and I am very happy to say that I’ve decided to buy all their shares as I have huge faith and commitment to this club and everything it stands for,”
Despite now once again having sole ownership of the club he purchased more than two decades ago, Wray is still looking for further outside investment – particularly in order to fund redevelopment of parts of Allianz Park.
Saracens relinquished their two-year hold on the Champions Cup on Saturday as they suffered defeat to Leinster in Sunday’s quarter final at the Aviva Stadium.