Billionaire Bristol Bears owner warns that top stars will quit England if the Premiership salary cap is reduced
BRISTOL BEARS have warned their Premiership rivals that cutting the salary cap and scrapping the marquee player rule will see the best stars quit England.
Bears' billionaire owner Steve Lansdown, who lost £370m over the last year and is now worth £1.35bn, down from £1.72bn - wants to keep the £7m wage cap as it is, whilst also being allowed to pay two players however much they want outside of that.
From July 1 Pat Lam's side have signed England prop Kyle Sinckler from Harlequins in a deal believed to be worth £500,000-a-year - as well as Fiji star Semi Radrada from Bordeaux.
Though some cash-strapped clubs in the top flight are pushing for change with a reduction of the cap.
They also want to ditch the marquee player rule as they try and survive in a post covid-19 world.
But in an open letter to fans, Lansdown said: "To continue to drive the commercial growth of the game, we must keep the best players in the Premiership.
"The right high-profile internationals encourage investment, appeal to new audiences and aid team performance.
"This challenging period should be used as an opportunity to reflect and explore how we can keep developing rugby through bold, innovative ideas. Now is not the time to take a step back and stifle progress.
"That is why we support the current salary cap. We believe the Premiership should foster and encourage ambition, while ensuring that clubs show financial prudence and planning.
"In previous seasons, Bristol Bears have not spent up to the salary cap. Instead, we have made the right decisions – in recruitment and for the business – to ensure that we can be competitive while still meeting the Premiership’s salary requirements."
A report into the state of Premiership rugby by former government minister Lord Myners recommended 52 changes to the current salary cap after Saracens were relegated and fined a record £5.36million for cheating it for three seasons.
Though Myners' scathing analysis didn't suggest that the cap or marquee player rule should be axed.
And Lansdown added: "In addition, the club believe strongly in protecting the marquee rule.
"Not only do we have long term contractual obligations that we have planned and budgeted for, it’s difficult to compete at the highest level domestically and in Europe without the ability to recruit the best players.
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"The Premiership is the best rugby competition on the planet. Removing the best talent would dilute the appeal and impact on its ability to compete in the global market.
"High quality rugby in front of large crowds breeds healthy competition and is only a good thing for the sport and its long-term sustainability.
"With a world class training facility, stadium and young squad hungry for silverware, Bristol Bears want to continue to show ambition and to aspire to achieve great things."