Here’s How Much Saracens Need To Shave Off Their Wage Budget To Comply With This Season’s Salary Cap
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Budget cuts.
Returning Chief executive Edward Griffiths this week admitted Saracens must offload players or reduce salaries to be compliant this season and he faces a hell of a task to balance the Premiership champions’ books.
It’s being reported that Sarries are £600k over the cap at the moment and have until June to get their house in order. In order to do this, they will need to cut their current annual wage bill by approximately £1.44m – no easy task.
Wales international Liam Williams is yet to play for Saracens this season because of injury. He’s already agreed to head back to Scarlets at the end of the season and it’s believed he will be released early to free up funds with the fullback said to be on over £230,000-a-season.
Sportsmail meanwhile is reporting that back-row forwards Calum Clark and Michael Rhodes will also be let go, along with Argentinian prop Juan Figallo. If Clark, Figallo and Rhodes exit, it is estimated that Saracens could cut around £800,000 from their wage bill.
Brad Barrit and Richard Wigglesworth are also out of contract at the end of the season with the latter expected to retire. Wing Alex Lewington is another player rumoured to be leaving at the end of the season but whether or not they will be forced to release any of their top England internationals remains to be seen.
Either way, Saracens have a very few months ahead of them. If they don’t comply this season they could be in for another hefty fine and a further points deduction next season.
players on a combined total annual salary of £1.44m.
Now factor in contractual obligations regarding how much they need to pay in compensation to players released early (on Cricket Captain if I release a player under contract I have to pay 50%) & that figure could go over £2m.
— David (@shrekwasp) January 6, 2020
of their annual salary, but I suspect most of the Rugby public will instantly expect them to receive that in offshore payments, payments to their WAG or Property. It won't go anywhere to repairing the damage to their image.
Personally I suspect they'll conclude it's simply too
— David (@shrekwasp) January 6, 2020
difficult to do now and accept that they'll get another fine and points deduction next season.
— David (@shrekwasp) January 6, 2020