Premiership champions Saracens are second in the table and have reached the semi-finals of the European Champions Cup

Saracens’ management of the salary cap remains under scrutiny after Premiership Rugby revealed the four-times champions had not disclosed the full extent of their business deals with players.

A number of the north London club’s leading players share co-investments with Sarries owner Nigel Wray.

Premiership Rugby says the Allianz Park outfit had contravened regulations by initially not sharing all of these details, and will now review further.

Saracens have explained the delay as a “minor internal oversight” and insist they comply with rules.

Last month Wray issued a statement saying Saracens “proactively disclose co-investments when they occur, even though we are under no obligation to do so,” which has now been disputed by Premiership Rugby.

“Clubs are required to supply information to the Premiership Rugby salary cap manager on any arrangements between a connected party and a player which might constitute a payment or benefit in kind,” said a Premiership Rugby statement.

“Saracens had not at the time of recent media speculation shared details of all the co-investment arrangements.

“The information now received will be reviewed.”

In response, Saracens continued to defend their financial arrangements.

“Unprompted, we invited Premiership Rugby’s salary cap manager into the club to openly discuss matters related to player salaries,” a club statement read.