Saracens have confirmed they will not appeal the heavy punishments imposed for breaking the Premiership's salary cap.

The English and European champions have decided not to contest the £5.4million fine and 35-point penalty imposed for infractions over the course of the past three seasons.

This marks a change of direction for the club, who had previously indicated they would appeal against the  sanctions imposed on them earlier this month, which they described as "heavy-handed".

In a statement on the club website, chairman Nigel Wray said that "Any review or further appeal would be a costly, time consuming and destabilising exercise" and that they had "decided not to appeal but to take our punishment and hopefully soon put this behind us."

Wray insisted that he had entered financial partnerships with some players "in good faith" and pointed out the independent investigation decided the club had "not deliberately sought to circumvent the regulations", but also accepted he should have consulted with the club's salary cap manager before establishing companies with the likes of Owen Farrell and Billy Vunipola.

Wray said he took full responsibility for the punishment and promised to appoint an independent director with responsibility for governance to the board.

Saracens will now crash from third in the Premiership to rock bottom on -22 points, 26 adrift of Leicester.

With regard to the fine, which totals exactly £5,360,272.31, it is understood the club will be given a short period of time to make payment.

Saracens, who have won the Premiership for the past two seasons and in four of the past five, boast a number of the game's elite players.

An independent panel, led by barrister Lord Dyson, found the club had failed to disclose payments to players in each of the 2016-17, 2017-18 and 2018-19 seasons, and had also exceeded the ceiling for payments to senior players.

No details have been revealed on the size of the undisclosed payments or the recipients.