Saracens' squad will be broken up after their relegation from the Premiership at the end of the season was confirmed, says director of rugby Mark McCall.
Premiership Rugby announced on Saturday that the defending champions will be relegated for persistent salary cap breaches.
They had already been deducted 35 points and fined £5.4m for three seasons' spending above the cap.
"This is the end of that era that dates back to 2009," said McCall.
Saracens had a major overhaul in 2009 and have since won five Premiership titles, including four in the past five years, and three European crowns.
"There's no doubt the bunch of players we've got in our squad now aren't going to be the same bunch of players we have in the Championship next year," added McCall.
"We have got some time to plan for a new era, a new journey, and that is the optimistic way of looking at it."
Sarries received a further sanction after failing to prove immediate compliance with the salary cap and will fulfil their remaining fixtures before dropping to the Championship for the 2020-21 season.
They beat Racing 92 27-24 on Sunday and secured their spot in the Champions Cup quarter-finals after Gloucester lost to Toulouse. It was Sarries' first match since the announcement and the result keeps alive their hopes of defending their European title.
McCall told BBC Sport the club had been "rightly punished" for "big mistakes" but that the players and staff were still "shocked and stunned" at the decision by Premiership Rugby (PRL).
"Clearly the club have made some mistakes, and big mistakes, and they have been rightly punished for those mistakes," he said.
"When we got the original decision at the start of November, 35 points and a fine, it seemed quite severe.
"Then the goalposts have changed again. Of course there is shock and sadness. Sadness more than anything else."
When asked why the goalposts had changed, McCall said: "You should ask that question to somebody else in our organisation, in PRL as well. My remit in the club is to get on with the rugby."
Saracens to talk to Jones and Gatland
Saracens' international stars, such as England players Owen Farrell, Mako Vunipola and Maro Itoje, could now look to move on, either on season-long loan deals or permanent moves elsewhere.
The Rugby Football Union has confirmed that Championship players will be eligible for England duty, but McCall said Saracens will speak to England head coach Eddie Jones about what he wants for his players.
"Every player has got a slightly different situation," said McCall.
"We'll also have to talk to Eddie Jones and see what he thinks, in terms of his established players from Saracens and the younger ones - is he prepared for people to be playing in the Championship?"
McCall added the club will also discuss the situation with British and Irish Lions coach Warren Gatland as he prepares for the 2021 tour of South Africa.
"It's important that we make decisions with the players, not for them," said McCall.
"Keeping the players against their will is never going to work, we need to see how the meetings go next week and see where some players' thoughts are."
However, McCall said that he intends to stay on to work with the younger players.
"We have the opportunity now to reflect and review and start to plan our future," he added.
"I very much hope to be a part of that future."
Are Saracens' titles tainted?
After the relegation was confirmed, Exeter Chiefs chief executive Tony Rowe told BBC Radio Devon that Saracens were given a choice between Premiership Rugby doing "a forensic audit of exactly what has gone on" or accept relegation.
In a statement on Sunday, Saracens said they "accepted" relegation and "unreservedly apologise for the mistakes made" and want to "rebuild confidence and trust" moving forward.
When asked if Saracens should keep their titles, Rowe said: "I'm not sure about that, there is still some more to come out and I'm not privy to talk about that at the moment."
McCall was asked if the club's four domestic and three European titles in the past five years were now tainted and said: "Things are never black and white.
"Those of us who have been here for the 10 years, they know what went into that success.
"But no-one wants to listen to that and we understand that. It's not all black and white."
Saracens Supporters Association said it will "continue to support" the club and "the players on the pitch."
In an email to members before the victory over Racing 92, they said: "It is now about acknowledging what has happened, and looking towards moving forward in a positive way.
"We sympathise with our members, and feel that continued support for the team is the best foot forward now."