https://www.examinerlive.co.uk/sport/ru ... s-30881591 RFL Commercial demand £800K cuts immediately. Salford wave two fingers up at them for 2 months and then spend some more money. No announcement of a takeover yet, and RFL Commercial will not ratify any new signings until they hit £1.2M salary cap. Good luck getting this signing ratified.

https://www.examinerlive.co.uk/sport/ru ... s-30881591 RFL Commercial demand £800K cuts immediately. Salford wave two fingers up at them for 2 months and then spend some more money. No announcement of a takeover yet, and RFL Commercial will not ratify any new signings until they hit £1.2M salary cap. Good luck getting this signing ratified.

How did Salford Red Devils get in this mess? In April 2023 Salford Red Devils launched a community share scheme entitled “Reds Rise Together.” The aim was to raise between £250K - £2M to secure the long-term future of the club. Along with raising of capital, there were a number of commercial targets, like growing average attendances by 2000, securing income streams on matchdays and securing a long-term lease with money through refreshment sales. SRD Holdings LTD Profit & Loss Actual 2021 Actual 2022 Estimated 2023 Estimated 2024 Estimated 2025 Total Income 2612209 3154036 3469440 3900613 4321405 Total Expenditure 2961643 3734884 3873761 4395060 4511381 Profit/Loss Before Tax (349434) (580848) (404321) (494447) (189976) The aim was to reduce the £580K loss in 2022 to a more manageable £189K loss in 2025 and break even some time in the near future. According to ChatGPT SRD were able to raise an incredible £1.5M, more conventional search engines put the figure at over £250K on the 30th May 2023. The rest of the prospectus appears to have been less successful. Objective 3: To increase average match attendance by 2000 within 3 years. This in reality requires Salford to achieve average attendances of 6000 in 2025. The average figure in a successful season like 2024 was only 4646 way below the projected figure. This greatly impacts on the estimated income of nearly £4M which also incorporates the projected income stream for refreshments, which incidentally has still not been negotiated with Salford City Council, even though the season starts in just over two weeks time. Salford City Council have periodically propped up the club with loans and grants to cover shortfalls in the SRD coffers. ChatGPT states that, “As of the latest available information, Salford Red Devils owe £1.6 million to Salford City Council. This debt primarily relates to the club's lease at the AJ Bell Stadium, and there have been ongoing discussions between the council and the club about restructuring this debt.” Salford City Council have recently bought out Peel Holding for £7M at a time when most councils in England and Wales are strapped for cash. Salford City Council is believed to be £1.5 Billion in debt. Salford Red Devils have far exceeded the goodwill of Salford City Council, and the Rugby League club have used the council like a personal piggy bank. They have assumed that possible income streams are available to be spend before they receive the money and in many cases the money never arrives. They have massively overprojected their ability to attract additional fans and to maximise commercial opportunities. How envious the SRD community board must be when they look West down the East Lancashire Road and see the Leigh Leopards achieving everything that they set out to do in the “Reds Rise Together” prospectus. https://www.crowdfunder.co.uk/uploads/p ... digital_(1).pdf https://www.crowdfunder.co.uk/uploads/p ... s_plan.pdf The Salford debacle is only a few weeks away from being rectified one way or another. 30th January marks this months pay day (do they have the funds to pay?) 9th February marks Salford's first competitive game of the season and the need to register players with the RFL. Without a new paymaster will the £1.2M salary cap be enforced. https://www.loverugbyleague.com/post/wh ... strictions Using the Wrexham takeover of a community club as an example - it took 6 months from NDA to announcement, and a further 3 months to ratify. Salford need to wrap it all up in less than 6 weeks or players are walking out on voided contracts.

How did Salford Red Devils get in this mess? In April 2023 Salford Red Devils launched a community share scheme entitled “Reds Rise Together.” The aim was to raise between £250K - £2M to secure the long-term future of the club. Along with raising of capital, there were a number of commercial targets, like growing average attendances by 2000, securing income streams on matchdays and securing a long-term lease with money through refreshment sales. SRD Holdings LTD Profit & Loss Actual 2021 Actual 2022 Estimated 2023 Estimated 2024 Estimated 2025 Total Income 2612209 3154036 3469440 3900613 4321405 Total Expenditure 2961643 3734884 3873761 4395060 4511381 Profit/Loss Before Tax (349434) (580848) (404321) (494447) (189976) The aim was to reduce the £580K loss in 2022 to a more manageable £189K loss in 2025 and break even some time in the near future. According to ChatGPT SRD were able to raise an incredible £1.5M, more conventional search engines put the figure at over £250K on the 30th May 2023. The rest of the prospectus appears to have been less successful. Objective 3: To increase average match attendance by 2000 within 3 years. This in reality requires Salford to achieve average attendances of 6000 in 2025. The average figure in a successful season like 2024 was only 4646 way below the projected figure. This greatly impacts on the estimated income of nearly £4M which also incorporates the projected income stream for refreshments, which incidentally has still not been negotiated with Salford City Council, even though the season starts in just over two weeks time. Salford City Council have periodically propped up the club with loans and grants to cover shortfalls in the SRD coffers. ChatGPT states that, “As of the latest available information, Salford Red Devils owe £1.6 million to Salford City Council. This debt primarily relates to the club's lease at the AJ Bell Stadium, and there have been ongoing discussions between the council and the club about restructuring this debt.” Salford City Council have recently bought out Peel Holding for £7M at a time when most councils in England and Wales are strapped for cash. Salford City Council is believed to be £1.5 Billion in debt. Salford Red Devils have far exceeded the goodwill of Salford City Council, and the Rugby League club have used the council like a personal piggy bank. They have assumed that possible income streams are available to be spend before they receive the money and in many cases the money never arrives. They have massively overprojected their ability to attract additional fans and to maximise commercial opportunities. How envious the SRD community board must be when they look West down the East Lancashire Road and see the Leigh Leopards achieving everything that they set out to do in the “Reds Rise Together” prospectus. https://www.crowdfunder.co.uk/uploads/p ... digital_(1).pdf https://www.crowdfunder.co.uk/uploads/p ... s_plan.pdf The Salford debacle is only a few weeks away from being rectified one way or another. 30th January marks this months pay day (do they have the funds to pay?) 9th February marks Salford's first competitive game of the season and the need to register players with the RFL. Without a new paymaster will the £1.2M salary cap be enforced. https://www.loverugbyleague.com/post/wh ... strictions Using the Wrexham takeover of a community club as an example - it took 6 months from NDA to announcement, and a further 3 months to ratify. Salford need to wrap it all up in less than 6 weeks or players are walking out on voided contracts.