Saracens’ £32million takeover by a consortium including World Cup-winning captain Francois Pienaar has been completed.

The Gallagher Premiership club announced the takeover in October with Saracens owner Nigel Wray agreeing to sell his controlling stake in the club.

A club statement said on Wednesday: “The board of Saracens Group Holdings Limited is pleased to announce the completion of the previously announced transaction regarding the refinancing of the group and the acquisition of a controlling stake in the group by Kimono House Limited.

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Former Saracens player Francois Pienaar is part of a consortium that has taken over the Gallagher Premiership club (Adam Butler/PA)

“This follows the receipt of the various approvals required (including from the RFU, PRL and the London Borough of Barnet).

“The group includes Saracens Rugby Club, Saracens Mavericks Limited (the owner of the Saracens Mavericks netball team), and Saracens Copthall LLP (the owner of the StoneX Stadium).

“Kimono House is owned by a consortium of investors including Dominic Silvester, Neil Golding, Nick Leslau, Paul O’Shea, Francois Pienaar and Marco Masotti.”

Pienaar led the Springboks to victory at the 1995 World Cup on home soil, famously receiving the trophy from South Africa president Nelson Mandela.

The former flanker made 44 appearances as a player-coach for Saracens between 2000 and 2002.

Wray, who first invested in the club in 1995 and took full ownership in 2018, has been looking to reduce his stake for some time.

Five-time champions Saracens returned to the Gallagher Premiership for the start of the 2021-22 season after a year in exile.

The London club were relegated in 2020 as a result of salary cap breaches, but managed to retain the services of England stars Owen Farrell, Maro Itoje, Mako and Billy Vunipola and Elliot Daly.