Bristol Bears owner Steve Lansdown has argued the Premiership should "foster and encourage ambition" by keeping the existing £7m salary cap as well as the controversial marquee player rule.

In a wide-ranging and damning report into the current system, former government minister Lord Myners recommended last week the marquee player allowance should be reviewed, saying it creates "unhelpful inflationary pressure" on player wages.

Meanwhile, it is expected the level of the salary cap will need to be lowered to help clubs with the financial damage caused by the coronavirus pandemic.

However, in an open letter published on Monday, Lansdown argues "now is not the time to take a step back and stifle progress", adding the club "strongly agrees in protecting the marquee rule".

"We believe the Premiership should foster and encourage ambition, while ensuring that clubs show financial prudence and planning," said Lansdown, who also owns Championship football club Bristol City.

"In previous seasons, Bristol Bears have not spent up to the salary cap. Instead, we have made the right decisions - in recruitment and for the business - to ensure that we can be competitive while still meeting the Premiership's salary requirements.

"In addition, the club believe strongly in protecting the marquee rule. Not only do we have long-term contractual obligations that we have planned and budgeted for, it's difficult to compete at the highest level domestically and in Europe without the ability to recruit the best players.

"The Premiership is the best rugby competition on the planet. Removing the best talent would dilute the appeal and impact on its ability to compete in the global market."

Bristol have capitalised on the rule, which allows two players' salaries to be exempt from the cap, by signing Fiji star Semi Radradra, who is set to move to Ashton Gate this summer.

Along with Radradra, Bristol have also agreed a deal for Harlequins and England prop Kyle Sinckler.

Any changes to the salary cap, such as lowering it or removing the marquee player allowances, would need a 75% majority of clubs to pass.