Saracens is delighted to announce that a consortium of investors have agreed on the terms to acquire a majority stake and that the club’s shareholders will invest significant new funds through a capital increase.
The consortium includes Dominic Silvester, CEO of Enstar Group, a global insurance group; Neil Golding, club president and partner of Freshfields; Paul O’Shea, director at Enstar; François Pienaar, captain winner of the World Cup and former player of the Saracens; Nick Leslau, President and CEO of Prestbury Investment Holdings; and Marco V. Masotti, partner of Paul Weiss and owner of the South African Sharks rugby team.
The capital increase translates into a total investment of £ 32million of new funds into the club. In addition to maintaining the club’s position at the top of men’s football, the new funds will be used for a variety of other purposes, including completing the redevelopment of the west stand; increased investment in women’s sport; and the creation of a high-level training center.
The consortium will form a new non-executive council to improve the existing council. It will continue to be chaired by Neil Golding, with Lucy Wray remaining Managing Director.
Neil Golding said: “We are emerging from recent challenges thanks to lessons learned and the establishment of new strong governance procedures. We would like to thank the amazing Saracens fans and sponsors for their continued support and look forward to welcoming the Saracens family back to StoneX in the near future for our return to the Premiership. Dominic, Nick and Francois all have a long association with the club and we are delighted that they are committed to its future.
Nigel Wray said: “I have given my heart and soul to the club for over two decades, having chaired the Saracens from the early days of professionalism. Unfortunately, I’m not getting any younger and have always wanted to make sure Saracens is in good hands for many generations to come. To show our continued enthusiasm for the future of Saracens, I will retain a significant, albeit passive, minority stake. “
He added: “I am delighted to cede control to the consortium which includes people I know well and who understand the culture that we have been able to create for over 20 years on and off the field, especially within the community thanks to the Saracens Foundation and the Saracens Multi-Academy Trust. I can’t wait to become a simple fan again and support the club I love while focusing more on the pioneering work of our incredible Foundation and supporting the construction of the Saracens school program.
Dominic Silvester said: “The members of the consortium have a long-term commitment to Saracens, with the new funds being used to maintain the club’s position at the top of the game for the future. We also have an exciting longer term vision to make the club a global market leader both on and off the pitch and we are well positioned to achieve this with our extensive international experience.
We also want to personally thank Nigel for all he has done for modern rugby and the well-being of the players, more than maybe anyone else. It is our privilege to bring Saracens into a new chapter and we intend to be just as ambitious and pioneering as Nigel has been.
Finally, the consortium will maintain the club’s deep commitment to diversity, community and sustainability.
We are delighted that Lucy remains CEO and board member and that Maggie Alphonsi, former Saracens and England women’s rugby player, has also agreed to join the board.
We are also delighted that Michael Yormark, President of Roc Nation Sports International, has been appointed as the club’s special advisor.
In addition, we will continue to maximize the socio-economic impact of the Saracens, taking care of our people and our community, as well as maintaining the state-of-the-art environmental standards of the stadium sector. “
The transaction is subject to closing conditions, including regulatory approval.