DIR Return Create A Forum - Home
---------------------------------------------------------
ComeAllWithin (Harlequins Rugby)
HTML https://comeallwithin.createaforum.com
---------------------------------------------------------
*****************************************************
DIR Return to: ComeAllWithin Board
*****************************************************
#Post#: 75335--------------------------------------------------
On the Wray out?
DIR By: Yareet
Date: October 1, 2021, 11:34 am
---------------------------------------------------------
HTML https://www.telegraph.co.uk/rugby-union/2021/10/01/exclusive-saracens-taken-consortium-32m-deal-will-end-nigel/
#Post#: 75339--------------------------------------------------
Re: On the Wray out?
DIR By: flapjack
Date: October 1, 2021, 12:05 pm
---------------------------------------------------------
Can someone post the Article please?
#Post#: 75341--------------------------------------------------
Re: On the Wray out?
DIR By: Yareet
Date: October 1, 2021, 12:23 pm
---------------------------------------------------------
The gist of it is:
Saracens are to be taken over by an investment consortium that
includes former World Cup winning-captain Francois Pienaar in a
£32 million deal that will secure the long-term future of the
club and bring to an end Nigel Wray’s 26-year ownership.
The consortium is headed up by Dominic Silvester, the chief
executive of a global insurance company who has had a
long-standing connection with the club, and also includes Marco
Masotti, the New York-based owner of the Sharks, the South
African franchise.
The deal will also see Maggie Alphonsi, the former England
Women’s World Cup winner and former Saracens player join the
board. It is understood that Michael Yormark, the president of
Roc Nation, an entertainment and talent agency founded by Jay-Z,
the rapper, will also join the club as a special adviser.
#Post#: 75343--------------------------------------------------
Re: On the Wray out?
DIR By: Monte
Date: October 1, 2021, 1:42 pm
---------------------------------------------------------
Not yet approved by RFU that they are fit and proper people to
own a rugby club
#Post#: 75344--------------------------------------------------
Re: On the Wray out?
DIR By: dinsdale
Date: October 1, 2021, 2:21 pm
---------------------------------------------------------
--- Quote from: Monte link ---
>
> Not yet approved by RFU that they are fit and proper people to
own a rugby club
>
--- End Quote ---
Given that the bar has been set as 'no worse than Nigel Wray' I
can't see a problem ;D
#Post#: 75345--------------------------------------------------
Re: On the Wray out?
DIR By: Adrian
Date: October 1, 2021, 2:37 pm
---------------------------------------------------------
Saracens are to be taken over by an investment consortium that
includes former World Cup winning-captain Francois Pienaar in a
£32 million deal that will secure the long-term future of the
club and bring to an end Nigel Wray’s 26-year ownership.
The consortium is headed up by Dominic Silvester, the chief
executive of a global insurance company who has had a
long-standing connection with the club, and also includes Marco
Masotti, the New York-based owner of the Sharks, the South
African franchise.
The deal will also see Maggie Alphonsi, the former England
Women’s World Cup winner and former Saracens player join the
board. It is understood that Michael Yormark, the president of
Roc Nation, an entertainment and talent agency founded by Jay-Z,
the rapper, will also join the club as a special adviser.
The deal will come as a watershed moment for the club who have
won the Premiership five times as well as three European titles
but saw their achievements and reputation tarnished by the
salary cap breaches over three seasons that saw them relegated
to the Championship last season and fined £5.36 million.
Wray’s daughter, Lucy, is to remain as the club’s chief
executive but her father will effectively cede all control as
the issuing of equity to the consortium will leave him as a
minority shareholder and it is understood he intends to be a
passive investor with no input to decisions.
Who are the new key figures at Saracens?
The cash injection will enable the club to cover the costs of
completing the new west stand development at the StoneX stadium
in north London while the investors are keen to develop the
women’s team while there is also a longer term goal to build a
high performance centre at the complex. Saracens currently train
at Old Albanian, a club just north of St Albans.
Wray, who first invested in the club in 1995, had been looking
for new investment in the club since it was rocked by the salary
cap scandal in 2019, which saw the three times European
champions relegated to the champions last season.
He held discussions with executives from private investment firm
MSD Capital during the summer but the deal fell through.
The new consortium also includes Paul O'Shea, who works with
Silvester, Nick Leslau, a property entrepreneur and current
chairman Neil Golding, a partner at law firm Freshfields, who
was brought in to replace Wray as chairman 20 months ago
overhaul the club following their salary cap sanctions.
The details of the takeover are expected to be announced on
Saturday morning before the club’s match against Leicester
Tigers. The consortium will then seek approval for the takeover
from the Rugby Football Union and Premiership Rugby
#Post#: 75360--------------------------------------------------
Re: On the Wray out?
DIR By: Adrian
Date: October 2, 2021, 4:25 am
---------------------------------------------------------
HTML https://www.saracens.com/club-statement-consortium-of-investors-acquire-controlling-stake-in-saracens/
#Post#: 75361--------------------------------------------------
Re: On the Wray out?
DIR By: TeddingtonQuin
Date: October 2, 2021, 4:28 am
---------------------------------------------------------
Club statement
HTML https://www.saracens.com/club-statement-consortium-of-investors-acquire-controlling-stake-in-saracens/
Will it be a watershed in terms of admission of wrongdoing I
wonder? I won't hold my breath!
#Post#: 75362--------------------------------------------------
Re: On the Wray out?
DIR By: Chris1850
Date: October 2, 2021, 4:40 am
---------------------------------------------------------
Silvester and Leslau invested in Itojes image rights with Wray.
As long as Wray continues to have any financial influence at
Sarries, they leave themselves open to continued suspicion
#Post#: 75368--------------------------------------------------
Re: On the Wray out?
DIR By: SwindonQuin
Date: October 2, 2021, 5:44 am
---------------------------------------------------------
Sold, £32 million.
Wray a silent minority shareholder.
Lady Wray remaining on the board.
*****************************************************
Page 1 of 5
DIR Next Page