Salford financial issues(again…)

[Toby Chopra]

51 minutes ago, Archie Gordon said:

Well, many of us said this with foresight - at the 2023 dry-run grading, at the 2024 real grading, and again in December.

The problem was never setting a deadline for a club that had been in special measures and was obviously struggling badly. The investors have been hanging around for ages. They should have been told to have this sorted by [insert a date in 2024 here]. The game has allowed this mess to unravel at the pace of Salford and their investors and here we are now - a car crash playing out in-season.

But what competition rules were Salford actually in breach of until the moment they asked for an advance? We can't just force teams out on a bad feeling. We could certainly toughen up the rules for the future of course, but Salford didn't break any rules as far as I can see and they finished the 2024 season. 

[Thunder Road]

I truly hope Netflix are keeping up to speed on this...

There is definitely a 2 season 12 episode series in all of this...

 

Not sure which A lister is Playing Rowley. 

But the back drop is as good as The American series Succession. 

Where , when or even if it will end...?

[dboy]

Latest article says this squad IS over £1.2m, but dispensation has been given!

That nasty RFL being mean again...oh...

[Bull Mania]

https://www.loverugbyleague.com/post/salford-red-devils-17-man-squad-explained-including-why-changes-to-cup-group-made

Well here's our answer. Absolute farce. A sustainability cap is in place except it's not! They could have fielded a team by using some of their reserve players they used against saints. But not they conveniently get special dispensation to field their two best players. The RFL are making this mess an even bigger farce. 

Edited March 5 by Bull Mania

[Archie Gordon]

22 minutes ago, Toby Chopra said:

But what competition rules were Salford actually in breach of until the moment they asked for an advance? We can't just force teams out on a bad feeling. We could certainly toughen up the rules for the future of course, but Salford didn't break any rules as far as I can see and they finished the 2024 season. 

The obvious one - and central to both their own finances and the investor coming in - was that they had no deal in place for a home stadium. 

Leaving that aside, special measures has to mean something. How on Earth did they ever come to exit special measures? 

And leaving that aside, set a deadline at the point of the advance being awarded!

Salford have been green lighted too many times by the game's governance, including right up to a week ago when the sustainability cap was raised. 

This has not crept up on us.

[Expatknight]

what is the point of having rules when they aren't enforced?

I would hazard a guess that should any team fall foul of breaking the salary cap the first thing they will say is Salford did it, with the RFL'S blessing, so you can't punish us.

It makes a mockery of the whole thing, this debacle has been going on for months now, no wonder we aren't taken seriously.

 

[Wakey Til I Die]

38 minutes ago, Bull Mania said:

https://www.loverugbyleague.com/post/salford-red-devils-17-man-squad-explained-including-why-changes-to-cup-group-made

Well here's our answer. Absolute farce. A sustainability cap is in place except it's not! They could have fielded a team by using some of their reserve players they used against saints. But not they conveniently get special dispensation to field their two best players. The RFL are making this mess an even bigger farce. 

The weakness of the RFL is astonishing even for them. Why should any club stick to the rules after this? They have shown themselves to be either unable or unwilling to enforce their own rules. Salford have extracted the urine all the way through this but it has highlighted that the governing body just isn't fit for purpose.

[Thunder Road]

Think I'd be asking Derek to buy Cameron Munster from the Storm and slipping him into the team next week..

 

If challenged I know what I'd say...

[fighting irish]

3.00 p.m. on Wednesday (the promised day) so, have they had their money yet? 

[Worzel]

Yet another example here of the RFL bending the rules to save Salford. They're now allowed slack on the £1.2m cap, hence the squad selected today. I'm fine with this, the RFL is being pragmatic, but if I hear another set of Salford fans chanting "f### the RFL" after all of this then I won't be able to help myself.

 

Edited March 5 by Worzel

[fighting irish]

19 minutes ago, Worzel said:

Yet another example here of the RFL bending the rules to save Salford. They're now allowed slack on the £1.2m cap, hence the squad selected today. I'm fine with this, the RFL is being pragmatic, but if I hear another set of Salford fans chanting "f### the RFL" after all of this then I won't be able to help myself.

 

Fine assurances Worz' but when? 

[Worzel]

7 minutes ago, fighting irish said:

Fine assurances Worz' but when? 

The RFL say they've seen proof of funds, so presumably they've seen them in the exit account, and they've seen the exit transaction record. So unless we've any reason to think those funds are going to fail AML proof-of-source tests and never arrive, I think the current approach is sensible.

It's regrettable, and Salford should never have got to this point (they should have sold players months ago), but there's no point having another St Helens incident for the sake of a bank process delay.  

[Wilderspoolmemories]

4 hours ago, Forever Trinity said:

I think they should go to the league below the Championship a bit like Rangers had to do in Scottish football

Wasn't that for blatant cheating though? I don't think Salford are cheating, they are just poorly managed financially.

[Dunedan]

If a team can chop and change their team each week as long as those named in the playing squad are under the cap, you dont have a cap.

At some point there has to be some form of punishment from the RFL. At the moment Salford are doing what they want with no sign of repercussions. Failure to pay players on time would be a points deduction in other sports.

[Exiled Wiganer]

Those special measures in full: 

- we will measure their weight using a giant sized set of.scales (previously purchased by a CEO to check there were enough sausage rolls for the buffet);

- we will measure their height using these novelty rulers made from real chocolate donated by Swiss Tony the new “owner”; and 

- we will measure their financial standing using a set of beans we traded the RFL cow for… 

 

Edited March 5 by Exiled Wiganer

[dboy]

14 minutes ago, Exiled Wiganer said:

...Swiss Tony the new “owner”...

 

You know, buying a SuperLeague club is very much like making love to a beautiful woman.

You need to take your time, show her you have money, but not that you spend money, don't talk too much (if at all), leave her wanting more, after the first date - don't answer the phone to her...

[Londonbornirishbred]

2 minutes ago, dboy said:

You know, buying a SuperLeague club is very much like making love to a beautiful woman.

You need to take your time, show her you have money, but not that you spend money, don't talk too much (if at all), leave her wanting more, after the first date - don't answer the phone to her...

lol.....cheered me up that has

[OriginalMrC]

The important question no one has answered yet is have Happy Mondays been paid yet!?

[sweaty craiq]

8 hours ago, Dave T said:

But we don't just kick clubs out because they are having some financial difficulties. 

So if a club goes under we just say never mind have another go? Having HMRC over etc is not a good image 

[DoubleD]

[Dave T]

1 hour ago, sweaty craiq said:

So if a club goes under we just say never mind have another go? Having HMRC over etc is not a good image 

At what point did you want them.kicking out?

[sweaty craiq]

23 minutes ago, Dave T said:

At what point did you want them.kicking out?

When they were unable to meet obligations and not prepared to structure the business so they could

[Dave T]

6 minutes ago, sweaty craiq said:

When they were unable to meet obligations and not prepared to structure the business so they could

When?

They sold the business. Thats quite a major change they made. Obviously we'll see what happens now.

[dboy]

22 minutes ago, Dave T said:

When?

They sold the business. Thats quite a major change they made. Obviously we'll see what happens now.

Moot point, but when you sell something, the buyer gives you...ya know...money.

Doesn't seem to have been a transaction just yet. It will, of course, come.

[sheddingswasus]

4 hours ago, Dunedan said:

At some point there has to be some form of punishment from the RFL. At the moment Salford are doing what they want with no sign of repercussions. Failure to pay players on time would be a points deduction in other sports.

That is  hardly a punishment with no relegation?