SALFORD RED DEVILS are set to become the first-ever community-owned Super League club.
Salford have today announced the launch of ‘Reds Rise Together’, a community share offer scheme that will see the club transition wholly into the first elite rugby league club in the northern hemisphere to become a truly and legally community owned club.
Paul King, Managing Director of Salford Red Devils said: “This year we’re celebrating 150 years of a club at the heart of its community. Now we’re growing that community, as well as placing it at the heart of the club.”
“The game has changed. IMG are in the business and with that comes a forward-thinking approach to how we move forward.”
“For years, whenever we’ve been close to something, we have had to sell our best players. This year we opted to change that. Now by doing this, it allows to maintain a competitive playing squad and gives us a real chance to win the biggest prizes in the game.”
“We have a fundamental belief that sport belongs to the people – not a sole person; and by doing this we’re creating the opportunity for such likeminded individuals to join us and do something really special.”
The ‘Reds Rise Together’ is a community share offer which allows an individual to purchase a share in the club’s holding company – now a Community Benefit Society (CBS) – entitling them to a vote and eligibility to stand for election to the CBS board.
The reasons behind the move are simple:
1) Maintain as competitive a playing squad as possible that compete at the highest level.
2) To unite our growing community behind a common-cause.
3) Fulfil IMG criteria ensuring Category A status within the top-flight of Super League through high level Commercial and Marketing growth.
