Allianz is to end its sponsorship of Saracens and the club's stadium at the end of the season, the company has announced.

The German insurance group has sponsored Saracens since 2012 and, as well as holding naming rights to the Hendon-based stadium, was set to continue in a deal through until 2021.

However, with Mark McCall's side now preparing for life in the Championship after accepting relegation from the Gallagher Premership for repeated salary cap breaches, the club's long-serving commercial partner has decided to cut their association short.

"Allianz has taken the difficult decision to end its sponsorship of Saracens Rugby Club and stadium at the end of this season," a company statement read.

"Allianz intends to continue to be involved in the great work that the Saracens Sports Foundation does in their local community and wishes Saracens well in the future." 

Allianz is reported to have paid Saracens some £2million a year as part of the agreement which saw it sponsor the kit as well as hold naming rights on the stadium.

During November, Saracens were fined £5.36million after repeated salary cap breaches.

Last month the club were handed another points deduction, with their relegation from the top-tier elite also confirmed. 

Meanwhile, Jamie George is the first member of Saracens' influential England contingent to publicly commit his future to the fallen double winners.

Although details have yet to be finalised, George intends remaining at the club for next season's campaign in the Championship despite the potential impact on his international prospects.

Saracens, England and the Lions view the time spent in the second tier of English rugby as a form of sabbatical, but George insists there is an element of the unknown in the months ahead.

"I want to stay at the club and I want to be part of the transition. That's the plan," George said. "We are 80 or 90 per cent of the way to knowing what's going on, but there are still a few bits to work out.

"I guess in a way we as players feel a responsibility to pay back what the club have given us.

"These are all very important times and we've got to make sure that we give everything we can back to them.

"As international players, we are doing stuff that's not been done before - we'll give that a go!

"I love the club, I'm committed to the club and next season might be an opportunity to rest a little bit more as you don't really get that at this stage of your career."