Saracens agree £32m takeover deal from consortium of investors

Saracens have agreed a £32m takeover deal that will see a consortium of investors acquire a majority controlling stake in the club.

Nigel Wray, the club's owner for 26 years, retains "a significant minority shareholding, albeit a passive one".

Chairman Neil Golding remains in his role, as does chief executive Lucy Wray.

More to follow.