Northern Edition

Select Edition

Northern Northern
Southern Southern
Global Global
New Zealand New Zealand
France France

Stricken Saracens' furloughs and swingeing pay deferrals

(Photo by Bryn Lennon/Getty Images)

Saracens have revealed they have implemented swingeing pay cuts and deferrals in the hope that the relegated Gallagher Premiership club can survive the economic damage caused by the coronavirus pandemic. The Londoners, who have been automatically relegated to the Championship for 2020/21 followed repeated salary cap breaches, are under severe financial pressure, a problem not helped by the imminent loss of Allianz, their prime sponsor. 

ADVERTISEMENT

With no firm indication that the suspended Premiership season will be restarting any time soon, owner Nigel Wray and chairman Neil Golding have addressed the entire squad, coaches and senior staff to explain the latest raft of measures they are taking to stay afloat. 

“I have never in my life experienced anything like this and indeed nor have the rest of us,” said Wray in a club statement. “The devastating wholesale loss of life, the potential destruction of the economy, millions of people out of work, tens of thousands of companies closed down – maybe forever – and all really because in most recessions demand drops, but it doesn’t drop to zero overnight.”

Video Spacer

Saracens’ Mako Vunipola takes on Wasps’ Billy Searle in the semi-finals of the RugbyPass Fifa charity tournament

Video Spacer

Saracens’ Mako Vunipola takes on Wasps’ Billy Searle in the semi-finals of the RugbyPass Fifa charity tournament

The stark financial outlook has left Saracens admitting they will be participating in the government furloughing scheme. In addition, they have also asked players and all employees earning over £75,000 to defer payment of their salaries – over and above this amount – until the start of the 2020/21 season. 

The amounts deferred will then be repaid over an 18-month period from the start of the 2020/21 season. “Covid-19 has had huge ramifications on every facet of society and rugby is no different,” accepted Maro Itoje, one of the club’s numerous England internationals. 

“This is not an easy time for the players and the club alike. But in order to see this through, the whole organisation needs to pull together and do what we can for the future of Saracens RFC and our individual career’s within the sport. We as a playing group would like to send our support and thanks to all of the healthcare workers who are risking their lives for us in the battle against Covid-19.”

Chairman Golding added: “We understand this is really tough for everyone, but the reality is that the only way to survive this unprecedented situation as a club is to make these adjustments. The board are very optimistic that this is a short-term issue and are taking steps to secure future funding which will put the club on a very sound financial footing.

ADVERTISEMENT

“We want to continue to grow our brand which extends far beyond the pitch with our incredible Saracens Sport Foundation and Saracens High School. We understand the weight of responsibility that comes with having nurtured one of the greatest rugby clubs in the world and what it means to all our fans.”

Wray concluded: “I’m delighted that everyone is pulling together in this crisis. It’s easy being a family in the good times, but Saracens have shown this season there’s a genuine family spirit in the bad times too. I and my family have devoted 25 years to this club, and I believe that once we get through this, we will come out stronger together.”

ADVERTISEMENT

LIVE

{{item.title}}

Trending on RugbyPass

Comments

0 Comments
Be the first to comment...

Join free and tell us what you really think!

Sign up for free
ADVERTISEMENT

Latest Features

Comments on RugbyPass

J
JW 10 minutes ago
'Passionate reunion of France and New Zealand shows Fabien Galthie is wrong to rest his stars'

Where? I remember saying "unders"? The LNR was formed by the FFR, if I said that in a way that meant the 'pro' side of the game didn't have an equal representation/say as the 'amateur' side (FFR remit) that was not my intent.


But also, as it is the governing body, it also has more responsibility. As long as WR looks at FFR as the running body for rugby in France, that 'power' will remain. If the LNR refuses to govern their clubs use of players to enable a request by FFR (from WR) to ensure it's players are able to compete in International rugby takes place they will simply remove their participation. If the players complain to the France's body, either of their health and safety concerns (through playing too many 'minutes' etc) or that they are not allowed to be part in matches of national interest, my understanding is action can be taken against the LNR like it could be any other body/business. I see where you're coming from now re EPCR and the shake up they gave it, yes, that wasn't meant to be a separate statement to say that FFR can threaten them with EPCR expulsion by itself, simply that it would be a strong repercussion for those teams to be removed (no one would want them after the above).


You keep bringing up these other things I cannot understand why. Again, do you think if the LNR were not acting responsibly they would be able to get away with whatever they want (the attitude of these posters saying "they pay the players")? You may deem what theyre doing currently as being irresponsible but most do not. Countries like New Zealand have not even complained about it because they've never had it different, never got things like windfall TV contracts from France, so they can't complain because theyre not missing out on anything. Sure, if the French kept doing things like withholding million dollar game payments, or causing millions of dollars of devaluation in rights, they these things I'm outlining would be taking place. That's not the case currently however, no one here really cares what the French do. It's upto them to sort themselves out if they're not happy. Now, that said, if they did make it obvious to World Rugby that they were never going to send the French side away (like they possibly did stating their intent to exclude 20 targeted players) in July, well then they would simply be given XV fixtures against tier 2 sides during that window and the FFR would need to do things like the 50/50 revenue split to get big teams visiting in Nov.

303 Go to comments
TRENDING
TRENDING Tyrone Green decision has huge bearing on his international future Tyrone Green decision has huge bearing on his international future
Search