Stepping down.

Saracens owner Nigel Wray has decided to retire as Chairman of the Premiership side with immediate effect.

Wray’s investments with senior players such as Owen Farrell were the centre of a massive salary cap investigation that ultimately ended in Saracens being fined £5 million and deducted 35 points in the Premiership.

Wray said:

“As we enter a new year, a new decade, it is time for the Club to make a fresh start. I am not getting any younger and feel this is the right moment for me to stand down as Chairman and just enjoy being a fan of this incredible rugby club. I will always be committed to the wonderful Saracens family.

“The Wray family will continue to provide the required financial support to the Club, and I will remain actively engaged in the work of the Saracens Sport Foundation and Saracens High School, as part of the Club’s ongoing commitment to our community in north London.”

A new independent Chairman will be appointed imminently.

Edward Griffiths will take up the role of interim CEO for a 12-month period. Mitesh Velani will assume a consultancy position at the Club and remain on the Saracens board.