Allianz deal due to expire in 2021
Saracens sponsorship deal with Allianz looks in doubt as the insurer seeks discussions with the rugby club after it breached its salary cap.
The club yesterday accepted a 35-point deduction and a £5.36m penalty for flouting the rules.
Allianz has had a deal with Saracens since 2012. The deal extends to 2021 currently, and includes kit sponsorship and stadium naming rights.
The scandal centres on business partnerships between the club’s owner and some of the players last season. The club has insisted that it is following the salary rules this season, but the point deduction has seen it drop to near the bottom of the table.
In a statement carried by news outlets, Allianz said: ”The independent disciplinary panel set up by Premiership Rugby has ruled on the charges brought against Saracens Rugby Club and Saracens have accepted the consequences. We respect that process and have no comment on it.
”Allianz is a long time sponsor but is not a member of any executive or supervisory boards of Saracens. The financial decisions taken in relation to the remuneration of the players are taken by the club’s officials and Allianz has played no part in this process.
”At Allianz we act with transparency and integrity and living up to these high standards is very important to us. We will be holding discussions with the club to confirm this shared understanding and commitment going forward.”