Saracens owner agrees to sell majority stake to consortium UK News

Saracens owner Nigel Wray has agreed to sell a controlling stake to a consortium that plans to invest £ 32million in the Gallagher Premiership club.

The consortium includes World Cup-winning captain Francois Pienaar, while another former buckwheat, Maggie Alphonsi, has agreed to join the board.

Dominic Silvester, CEO of Enstar Group, Paul O’Shea, Director of Enstar, Nick Leslau, President and CEO of Prestbury Investment Holdings and Marco V. Masotti, Partner of Paul Weiss and Owner of South Rugby African Sharks team are also part of the consortium.

The consortium will form a new non-executive council to improve the existing council.

It will continue to be chaired by Neil Golding, with Lucy Wray remaining Managing Director.

Mr Wray will retain a “significant, albeit passive, minority stake,” according to a club statement.

Mr. Golding said: “We are emerging from recent challenges thanks to lessons learned and the establishment of new strong governance procedures. We would like to thank the amazing Saracens fans and sponsors for their continued support and look forward to welcoming the Saracens family back to StoneX in the near future for our return to the Premiership. Dominic, Nick and Francois all have a long association with the club and we are delighted that they are committed to its future.

Mr Wray said: “I have given my heart and soul to the club for over two decades, having chaired the Saracens from the earliest days of professionalism. Unfortunately, I’m not getting any younger and have always wanted to make sure Saracens is in good hands for many generations to come.

“To show our continued enthusiasm for the future of Saracens, I will retain a significant, albeit passive, minority stake.”

He added: “I am delighted to cede control to the consortium which includes people I know well and who understand the culture that we have been able to create for over 20 years on and off the field, especially within the community thanks to the Saracens Foundation and the Saracens Multi-Academy Trust.

“I look forward to becoming a fan again and supporting the club I love while focusing more on the pioneering work of our incredible Foundation and supporting the construction of the Saracens school program.”