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marshy1

Salford.

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Salford Football Club(1914) Limited hace filed for a petition to wind the company up on Wednesday October 17th 2012.

Clearly the struggle to keep afloat has beaten them.

Just wonder what the council will do now about the remainder of the unpaid loan.

In the words of Frank Gallagher...PARTY.!!!!

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Early days yet Andy the petition can be removed if they settle the debt within 7days i think.

Also in reality you don't want any club to fold especially since Rugby Union is in the back yard so to speak.

The suprising part about it is that it seems to be Steuer Gregsson..the company they brought in to advise them on running the club who have filed the petition as they are also a club sponsor.

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I will keep my fingers crossed and start the big 7 day countdown he he

Everytime I see in the press at the beginning of the season Salford saying "we need average 8,000 to break even" I p~ss myself, everyone knew they would not get near that figure.

Because of Salford City Council loaning them some of the money for the ground, they are looking at collecting my bin every 2 weeks now great. Hope they get everything they deserve

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So the company they brought in to help with their finances are the company that issues the winding up order? You couldn't make this stuff up!!

It's like this company are telling Salford they're a dead horse!

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Bigtony I do half agree with you, but when the boot was on the other foot all those years ago they, Salford,voted against Swinton being granted a licence. Something a few haven't forgot.

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Bigtony I do half agree with you, but when the boot was on the other foot all those years ago they, Salford,voted against Swinton being granted a licence. Something a few haven't forgot.

for once i agree with you marshy, one look at the reds accounts tells me their whole business model is totally flawed only trouble is we all end up paying for it. now the nwda is no more i reckon peel and the pink council will take over, as for godliman watson homes/malcolm white i ask myself whats the difference.

https://www.duedil.c...ited/financials

click on financials

nearly 4.4 million minus book value, somehow

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I would imagine without seeing the books, the bulk of the debt will be made up of directors loans and other loans, with HMRC also maybe included.Depending on the levels of the directors loans this shouldn't create a problem so long as other debt is serviced, as theoretically the directors will not demand repayment.

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Rugby Fans stick together I totally agree Bigtony but when it comes to them not a chance. Don't know what is was like when you was at school but my school years was awful, listening to them laugh at Swinton with no ground wasn't doing well on the field and like Marshy said they voted against us to get back in the league.

I hope they get everything thrown at them.

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Voting against us kind of took away any chance of Swinton fans feeling sorry for the pinks. I do feel sorry for the fans that used to go every week at the Willows but now have to (or refuse to) travel to Barton to watch their team. But then again...Gigg Lane...Moor Lane...Sedgley Park...The Willows...LSV.

I don't think it affects council funding, each year the council is given a budget to spend on sports and leisure facilities etc. I'd heard alot of councils actually had a surplus at the end of last year.

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So the company they brought in to help with their finances are the company that issues the winding up order? You couldn't make this stuff up!!

It's like this company are telling Salford they're a dead horse!

Or perhaps they think they can wipe out a lot of the debt and end up owning the whole thing? With no relegation, what impact does a loss of points have?

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Is the Pinks' plight keeping me awake at night?

I think you all know the answer to that one!

Spelly.

:D :D :D

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There's a new development reported this morning in League Express. The dispute with Steuer Gregsson is over circa £15k, but on hearing of the petition HMRC has alledgedly decided to jump on the bandwagon and in their case the sum owed is reportedly more like £150k. Creditors competing to get to the front of the cue.

All very sad in my view and shows the true depth of incompetance surrounding Barton, on behalf of both the City Reds and City Council.

None of this helps Swinton Lions one iota, beyond lessons on how not to develop a new stadium.

Bad enough for the City Reds to feel the need to ask consultants how best to make Barton work, let alone to do so after the horse has bolted. Their report must have ended like that joke about the Irishman who was asked for directions and said - "You shouldn't start from here". To have Steuer Gregsson issue a petition shows their input can hardly have been well defined and managed. Perhaps John Wilkinson took this route to get some "dirty work" done indirectly - easier to pay a few £s rather than lose face with the Council and long-term friends like Dave Tarry. He has clearly looked to limit the bill by putting some sponsorship into the package.

Council tax payers are a much bigger creditor than even HMRC, according to Salford Star receiving repayments on a £1m loan at a rate of £50k every quarter until 2017 on top of the £375k pa rent to play at Barton (they say the rent was originally set at £750k until Sale Sharks moved in).

One wonders what the Council's contingency plan is to recover this money in the event the Reds go under, as I doubt Mr Merry will have given that too much thought in his eagerness to get the place constructed.

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