Saracens: Neil Golding replaces Nigel Wray as chairman
Saracens have named lawyer Neil Golding as their new chairman as they look to recover from the salary cap scandal.
The club were deducted 35 points and fined £5.36m after an inquiry into business dealings between ex-chairman Nigel Wray and some Sarries players.
Wray retired after guiding the club to five Premiership and three European titles, but they are now bottom of the table following November's ruling.
"I recognise I am joining at a time of significant change," Golding said.
"We, as a board, are strongly committed to introducing new robust processes and working together with other Premiership Rugby Limited stakeholders in the best interests of Saracens and English rugby."
Saracens said Golding's "immediate priority" would be to "lead and oversee new governance measures including steps to ensure regulatory compliance."
Wray first invested in the club in 1995 and reclaimed full control in April 2018 by buying back a 50% stake sold to South African firm Remgro.
On Monday interim chief executive Edward Griffiths said the Saracens squad could be dismantled for the club to comply with salary cap rules this season.
Griffiths is leading a "scoping exercise" as the first step in making the club "whiter than white", and has not ruled out the possibility of letting star players go.
The London side are bottom of the Premiership on -7 points, 18 points behind 11th-placed Leicester.