Premiership Rugby today confirms the strengthening of its Salary Cap team with the appointment of auditors from PwC, the professional services firm.
PwC has a strong global sports practice which audits the salary caps in NFL, NBA and Major League Baseball and includes UEFA among its clients. PwC will be retained by Premiership Rugby as accountants in relation to the auditing and management support of the Salary Cap which operates across the Premiership Rugby clubs with primary focus on undertaking the annual Salary Cap audit.
"The Salary Cap is an extremely important component of the success of Premiership Rugby and the Aviva Premiership," said Phil Winstanley, Rugby Director, Premiership Rugby.
"The Salary Cap was introduced 15 years ago to ensure thefinancial viability of all of the Aviva Premiership Rugby clubs to control inflationary pressures on clubs' cost, provide a level playing field for clubs and to ensure a competitive Aviva Premiership Rugby competition.
"The business of professional sports governance, and in particular the complex area of financial regulation, requires the right level of expertise and PwC have one of the leading sports practices in the UK and globally. We are pleased to welcome them to the team. Working with their experienced auditing team will further strengthen our management and support for the Salary Cap.
"Premiership Rugby undertook a thorough tender process and received a number of high calibre tender submissions. PwC were the standout firm who have the ability to deliver an effective and rigorous audit through their extensive sports audit expertise and knowledge."
PwC’s work will help maintain the integrity of the Premiership Rugby Salary Cap system and ensure club compliance.
"Premiership Rugby and its clubs led the way introducing their Salary Cap in England in 1999 and we at PwC are pleased to be involved in ensuring the success of the salary cap system," said David Reeman, Salary Cap engagement leader at PwC.
"We are passionate about sport and have unrivalled experience of working with large sporting organisations and particularly salary cap regimes across the PwC network with knowledge of the NBA, NFL and Major League Baseball salary cap systems.
"We will harness this experience and network to ensure the continual evolution of the Premiership Rugby Salary Cap in order that it remains in line with commercial advances and upholds the principles of financial responsibility, fairness and competitiveness across the league."
There is an emphasis on the Salary Cap to further increase the number of home-grown players in Aviva Premiership Rugby. The Home Grown Player Credits available help the enviable production line that has been established from the Premiership Rugby Academies to the Premiership Rugby squads and on to England.
"The number of England qualified players in Aviva Premiership Rugby passed 70% for the first time last season and we want to drive the numbers even higher," added Winstanley.
"England and their clubs are getting stronger because of our commitment to the development of world class England players in Aviva Premiership Rugby; the most competitive league in the world. The Salary Cap is an essential part of our league and the strength of our system."
The full Premiership Rugby Salary Cap regulations can be found at www.premiershiprugby.com/salarycap
From the 2015-16 season:
- The Base Salary Cap level will be £5.1m plus £400,000 Home Grown Player Credits. (The Home Grown Player Credit applies to players who joined a club Academy before their 18th birthday and have been with the club for more than two years.)
- Each club will be also be able to nominate up to two 'Excluded Players'. Their salary is not included in the Salary Cap.