SALFORD RED DEVILS have released a statement, revealing that they have been “directed to sell players without delay” following their recent financial issues.
A lot has been made of the financial predicament that the Red Devils have found themselves in in recent months, with the RFL giving the club an advance of £500,000 on their central distribution funding back in December.
The club is currently in negotiations for a sale to a consortium of Australian investors, who are thought to be keen to take a controlling interest in the club as well as acquiring rights to stage events at the club’s Salford Community Stadium home.
However, with those negotiations not yet completed, the club remains in a perilous place and now the Red Devils have released a statement.
“Over recent months, there has been repeated media speculation on the club’s financial position. We have purposefully maintained a level of silence since our last statement, not out of avoidance, but out of necessity due to the sensitive nature of our ongoing discussions with potential investors.
“Our discretion has been to maintain and ensure the integrity of those discussions, bound by Non-Disclosure Agreements, and to protect our club, players and staff.
“As the position stands, contrary to what has been reported, investor negotiations continued over the weekend as part of the lengthy, rigorous process to secure a takeover for the club. This is still live and we are working to expedite – details of which we can’t disclose given the Non-Disclosure Agreement in place.
“However, the club has been directed to sell players without delay; the position of the RFL have issued a sustainability cap of £1.2 million and until we reach that, we are now prohibited from registering players for the upcoming season.”