“The club will continue to vigorously defend this position especially as PRL precedent already exists whereby co-investments have not been deemed part of salary in the regulations,” Saracens said in a statement.“As previously stated, the club made administrative errors relating to the non-disclosure of some transactions to PRL and for this we apologise.“Furthermore, it is the club’s belief that the panel’s narrow interpretation of the regulations is detrimental to player welfare across the league and is damaging the development of elite level rugby in the UK.”The sanction was supported by other Premiership clubs. The punishment, however, is suspended pending the outcome of the appeal process. Renovation costs were also loaned, interest-free, by Wray.It is understood that Saracens' defence was that Wray considered these payments to be equity investments and if they were declared as such - rather than as director loans, on the advice of an accountant - they would have been approved by the salary cap manager.In his witness statement, Mr Wray said these payments were "bona fide commercial transactions with a number of players based on the merit of those investments, not, as PRL suggests, in order to provide an additional reward to players for playing their rugby at the club. I’ve not read the judgement but if that’s what they deem appropriate, then that’s the way it is.
No. The salary cap has a troubled history, much criticised in the past – and not just by those who believed it had no teeth. But Saracens' defence is understood to have been that Ashton left Saracens shortly after this property was bought, meaning it could not have been a benefit for playing for Saracens.It is understood that Saracens explored the option of appealing the initial ruling in November, which led to a £5.3m fine and deduction of 35 points.It is thought the club did not resist an investigative audit at the end of this season but they did resist a three-year retrospective audit on the grounds that it would be unfair - in the club's view - if the same scrutiny was not applied to every Premiership club.The panel advised against the relegation of Saracens and noted in their decision: "We accept that the breaches were not deliberate, but in our view they were reckless.
“It has been acknowledged by the panel that we never deliberately sought to mislead anyone or breach the cap and that’s why it feels like the rug is being completely pulled out from under our feet.”However, there was support for the sanction from other Premiership clubs while Tony Rowe, chief executive of Exeter, who “They should be relegated,” Rowe said. The full fine totals £5,360,272.31.The salary cap now stands at £7m plus two marquee players, with a number of other allowances made for homegrown and English-qualified players.
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