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For sure, this is pretty much what I've heard, was just making the point that these are not all shell-companies and therefore egregious flouting of the rules from the start...
owl-
The thing that I'm curious to find out is how far up knowledge of this went. Farrell snr. was coaching his son in the England set up when some of this was going on. He must have at least had an inkling, did he discuss it with any of the RFU blazers?
I know the RFU and prem rugby are separate corporate entities but they have a pretty close working relationship.
Bobbo
My understanding is that there is less of an issue with Wolfpack and some of the other businesses that came early on as they were proper investments made with joint investment between the players and Wray. Wolfpack was set up and invested in on the back of a solid business plan presented by some of the players who also put in their own money. There are other examples of this as well i.e Tika Tonga Coffee.
This however opened the door to other less scrupulous ways to circumvent the salary cap and wound up with multiple players essentially being given property companies.