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Nigel Wray is to step down as Saracens chairman after a period of unprecedented trophy success tarnished by the breaching of the Premiership salary cap

Nigel Wray is to stand down as chairman of Premiership and European champions Saracens with immediate effect bringing the curtain down on a period of unprecedented success on the pitch but tarnished by their breaching of the salary cap.

Wray will still finance the club he has transformed since first investing in it in 1995 but in a statement issued by Saracens he said it was time for a younger person to take over as chairman.

“As we enter a new year, a new decade, it is time for the club to make a fresh start,” Wray said.

“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.”

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