Saracens statement: 'Ill considered' - Wray defends report findings

Former Saracens CEO Nigel Wray has said that he was at fault for the salary cap breaches that saw the club relegated, but maintains that neither he nor the club actively wanted to break the cap.

The report was published in full yesterday at the behest of both the PRL and Saracens. Premiership Rugby CEO Darren Childs had suggested the club didn't want the report published, a position the club immediately refuted.

The report was duly published, and it argued that Saracens had been "reckless" with regard to the cap.

"I am really sorry for the heartache that I have caused you due to my ill-considered approach to matters relating to salary cap compliance. My intention with co-investments was always to support players beyond their playing careers.

"I recognise that the actions of the Club were described by the panel as ‘reckless’ primarily due to my failure to consult with PRL’s salary cap manager prior to entering into any agreements and then disclosing the transactions to him. I take full responsibility for this. We should have been far better.

"Equally important is the Panel’s determination that neither the Club nor myself deliberately attempted to breach the cap."

Wray goes on to expound upon the findings of the report in some detail, which you can read HERE in full.

"I appreciate there is a lot to digest but felt you were owed a full explanation. Again, I am sorry that this has caused so much upset to you and our sport.

"As you know, the Club has already started to implement new processes to ensure nothing like this happens again.

"Despite recent events Saracens is a family which has always brought me and my family so much joy. The team’s incredible form and the Club’s togetherness in recent weeks shows me the culture we have built is strong. Our vision, represented by a united group of players, coaches, staff, families and fans who care deeply for one another, endures."

WATCH: Head coach Eddie Jones and captain Owen Farrell hold a press conference in London ahead of the start of the Six Nations tournament.