Bristol Bears have backed Premiership Rugby on the reduction in salary cap after initially opposing the move.
Premiership Rugby had earlier announced reduction in salary cap by £1.4m ahead of the 2020/21 season while there has also been a reduction in marquee players, whose salaries does not come under the cap from two to one until the end of the 2022/23 season to help the clubs overcome the financial crisis created by the pandemic coronavirus.
Even though clubs will have to adapt especially when they have two marquee players, Bristol Bears released a statement that they understand that the amendments has been made keeping in mind the future of the competition which had faced tough times due to the outbreak of Covid-19.
"While the club were against the original proposal to reduce the cap and remove the marquee player rule, due to concerns over the long-term commercial viability of the competition, we understand the views of the other stakeholders and share their commitment for a collaborative approach," read a statement from the club.
Therefore, a compromise position has been unanimously agreed which demonstrates the mutual understanding of the clubs working together in the Gallagher Premiership.
We believe the transition period in the salary cap reduction, with no changes to commence until 2021/22, is appropriate and we support the retention of two marquee players for the next two seasons, with one marquee player retained thereafter. We are pleased that the salary cap will be automatically increased in line with any central funding increase.
Equally importantly to us, we are pleased that existing player contracts can be honoured and that each club has the autonomy to negotiate with its own players and staff to manage the transition period".