Sarries to fight 'draconian' sanction
REACTION: Saracens boss Nigel Wray has promised to fight the heavy-handed treatment handed down to his club.
The English and European champions, Saracens, were docked 35 points and fined over £5-million (US$6.5-million) for breaching the Premiership Rugby salary cap over several seasons.
Wray said they will appeal 'all the findings'.
The club said it was "shocked and disappointed" by the "heavy-handed" sanctions.
"The Club is pleased the panel acknowledged it did not deliberately attempt to breach the salary cap and steadfastly maintains that player co-investments does not constitute salary under the regulations," the club said in a statement.
"This view is supported by independent legal and professional experts.
"The Club will continue to vigorously defend this position especially as PRL precedent already exists whereby co-investments have not been deemed part of salary in the regulations."
Saracens - who provided nine of the England squad including captain Owen Farrell that reached last Saturday's World Cup Final - had been subject to a nine-month investigation.
Following a five-day hearing in September and October, an independent three-man panel, headed by a distinguished former judge, adjudicated that they had indeed contravened the salary cap which is set at £7-million a year.
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