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

The club's interim chief executive Edward Griffiths resigned late last month after the club accepted their imposed relegation at the end of the season.

Saracens, who have racked up four Premiership titles and three European crowns in the past five years with international stars such as Owen Farrell, Maro Itoje, and the Vunipola brothers, were sanctioned in January for spending above the league's 7 million pound ($9 million) salary cap.

(Reporting By Lawrence White;Editing by Elaine Hardcastle)