Saracens’ South African shareholders have expressed their desire to sell their 50% stake in the club.
The overseas owners of the current European Champions told The Times yesterday of their desire to sell their half of the club. Nigel Wray looks set to become the 100% owner of the club, for a short period.
The desire to sell has come following the repetitive losses Saracens have been reporting over the past few years. Last season, they reported a loss of £2.68 million. This was actually an improvement on some of their previous year's losses.
The North London side are reportedly looking for two new investors to replace the South African company ‘Remgro’ who currently own 50% of the club. One new backer would be a property investor to help the rebuilding of the west stand at Allianz Park. This is intended to go towards offsetting some of the club’s losses.
Saracens take the number of Premiership clubs up for sale to three alongside Worcester Warriors and London Irish. Worcester have reported a loss of £4 million last year while Irish lost £2.79 million. Exeter Chiefs are the sole club to be in profit, sitting £1.14 million in pocket.
Premiership sides profits/losses
Photo Credit: The Times
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