Salford financial issues(again…)

[Taffy Tiger]

21 hours ago, Thunder Road said:

I wouldn't sell this consortium a packet of spangles 

You couldn't sell anyone a packet of spangles .  They stopped making em 30 years ago 

[Red Willow]

16 minutes ago, Henson Park Old Firm said:

Can someone in a nutshell brake it down to me (simple as possible) on what exactly happened, why the club is in a mess now, and the "predicted future" of the club... I've been lost in this mess... so confused need clarity.

 

Cheers.

The "Investors" want the land around the stadium, yet to be developed. They speak to the Council who want to save their own investment in the stadium so make the club part of the deal.

The investors don't want to put money into the club with the deal for the land so are stalling.

Players aren't getting paid so Sneyd is sold to Wire, Nene can't be far behind. I don't blame them.

The club is a basket case and it's depressing. If we were an animal we would be put out of our misery.

The RFL share some of the blame for letting this drag on for so long.

Edited March 14 by Red Willow

[Tommygilf]

8 minutes ago, Henson Park Old Firm said:

Can someone in a nutshell brake it down to me (simple as possible) on what exactly happened, why the club is in a mess now, and the "predicted future" of the club... I've been lost in this mess... so confused need clarity.

 

Cheers.

2012/13 - Salford in dire straits. Winding up petition etc. A CVA and new company agreed. Move to new ground, terrible terms of the lease making it almost impossible to make money on matchdays except from tickets, criticism of the stadium location and layout; Dr Koukash saves the day. Legacy of financial difficulties and the terrible lease remain. 

2014 - emerges that Salford Council gave the club £200k

2016/17 - End of 2016 they are nearly relegated. Then end of 2017 Koukash leaves.

2018/19 - no new major financial backing comes in as several modestly wealthy board members iirc. 2019 the club reach the grand final.

2020 - as Covid permitted no relegation, Salford default on the 2013 CVA and take the 3 match loss punishment. Some hailed this as a clever move...

2021-24 - the club still owes the council £1.5 million from pre 2013, it then also has been loaned around £400k across 22, 23 and 24. In 2023 the club changed to become a community benefit society, becoming "fan owned". By 2024 the club was struggling massively, put into special measures by the RFL, then at the end of the year had a "we need you" type appeal. The council have funded a stadium purchase to make the terms of rent much more favourable to Salford - lack of clarity around this however with lease terms. A number of loans are taken out by the club in this time, the latest being Summer 2024. Lot of turnover in the board too. 

Late 2024-present - the club needed a £500k advance in the off season to avoid financial ruin. Last remaining director Paul King, leaves after "selling" to a consortium fronted by swiss banker Dario Berta. Money has yet not materialised, personal bank transfers being used, a further £130k advancement from the RFL. £1.2 million sustainability cap enforced, ridiculous squad selection debacles on the BBC, concerns that they don't finish the season. Broken business model?

Did my best!

[LeytherRob]

https://www.bbc.co.uk/sounds/play/p0ky9d4h

Some interesting comments from Chris Irwin post match

• Says it's going to be a good few more weeks yet at least under the sustainability cap
• Suggests they are finally going to take action RE shuffling the squad  and reducing costs so sounds like there will be a few exits
• Gave a fairly cagey response to a question on whether administration was likely in the coming weeks

Looks like things are going to rumble on well into April

[RP London]

6 hours ago, Dave T said:

This season they are showing 6 games. If they didn't want to show them, we could ask them to stop and we could just show them on SL+ 

There might be a point that they would be happy with 2, but not part way through a season when they are pushing every game live.

The black and white evidence is that Sky want to show these 6 games, otherwise they wouldn't as we've seen previously. 

It would be in our interest for them to show only two and let us have the other 4. But they don't they show them.

My conclusion is backed up with firm evidence.

That's a really odd take on it.. the first paragraph especially.. they are showing 6 because they can as they are already paying for the production, however the ones not on a main channel make them no money at all.. they show 2 for profit... I don't know why that isn't the clear sight on this to be honest.. everything else is irrelevant.. profit on 2 cost on 6.

[RP London]

6 hours ago, Gav Wilson said:

If Sky had a contract to show more than two games a week, they would.

But they don't, so they don't. This was proved last weekend when they showed a repeat of a Friday night game while a live game was on at the same time. This is firm evidence. 

Every other game is being filmed at Sky's expense for RL Commercial to sell SL+ subscriptions. This was celebrated as a good thing when this latest contract was announced in 2023.

 

Exactly.. 100% agree.. I really don't understand the other argument.

They'll go down to 5 as they are still "showing every game live" but not paying for 1 and pocketing the cost as profit.. I can't see them having an issue at the moment.. come the next contract though this whole debacle could cost us in trust. 

[RP London]

32 minutes ago, LeytherRob said:

https://www.bbc.co.uk/sounds/play/p0ky9d4h

Some interesting comments from Chris Irwin post match

• Says it's going to be a good few more weeks yet at least under the sustainability cap
• Suggests they are finally going to take action RE shuffling the squad  and reducing costs so sounds like there will be a few exits
• Gave a fairly cagey response to a question on whether administration was likely in the coming weeks

Looks like things are going to rumble on well into April

They'll go onto admin and then the takeover will happen.. that's my bet anyway.. but I have been down the pub!

[Celtic Roosters]

12 hours ago, Taffy Tiger said:

You couldn't sell anyone a packet of spangles .  They stopped making em 30 years ago 

They stopped making them more than 30 years ago. About 43 years ago I wrote and asked why they had stopped? They did bring them back again but they were only sold in Woolworth stores as a trial and you could only buy packets of single flavours. They tasted nothing like the old ones and were soon discarded again.

[Stanley30]

Poor me , poor me, pour me another one!

[Celtic Roosters]

18 hours ago, The Masked Poster said:

It doesn't wind anyone up pal, it's just a bit ludicrous. 

And you wouldn't deny players money yet want the game to go bust? Yeah, makes sense. 

I couldn't give a tinkers cuss what happens to the professional game that I once fell in love with to be honest mate. There will always be lads turning out on a Saturday afternoon and giving it everything for their mates and then paying £5 subs. I've been watching Swinton home games for a few years now because I have nothing else to do on a Sunday afternoon and I will watch NCL games on Saturday afternoon's when the non league football season is over but, I don't even watch Super greed on TV, unless Salford are playing. I won't expect any replies to this because nobody cares?

[lucky 7]

Oh dear.

https://www.thesun.co.uk/sport/33843197/rugby-super-league-salford-wembley-money-crisis/

[Henson Park Old Firm]

8 minutes ago, Celtic Roosters said:

I won't expect any replies to this because nobody cares?

I care... 

[The Masked Poster]

40 minutes ago, Celtic Roosters said:

I couldn't give a tinkers cuss what happens to the professional game that I once fell in love with to be honest mate. There will always be lads turning out on a Saturday afternoon and giving it everything for their mates and then paying £5 subs. I've been watching Swinton home games for a few years now because I have nothing else to do on a Sunday afternoon and I will watch NCL games on Saturday afternoon's when the non league football season is over but, I don't even watch Super greed on TV, unless Salford are playing. I won't expect any replies to this because nobody cares?

Yes you've just reinforced your point. You expect amateur lads to give up their weekend and possibly get injured, affecting their jobs - just to satisfy your moral stance that everyone should play for the Corinthian spirit. 

This is EXACTLY what Rev Marshall and co were after, so well played. 

[JohnM]

"this will be a distant memory.”

Oh no it won't.

[Click]

6 hours ago, The Masked Poster said:

Yes you've just reinforced your point. You expect amateur lads to give up their weekend and possibly get injured, affecting their jobs - just to satisfy your moral stance that everyone should play for the Corinthian spirit. 

This is EXACTLY what Rev Marshall and co were after, so well played. 

bluddy Super Greed.

[The Future is League]

On 15/03/2025 at 14:37, Henson Park Old Firm said:

I care... 

So do I

[JohnM]

I too, care about Salford. 

I care, too, about their attempts to stay alive in the most difficult of circumstances in the terra incognita of Rugby League.

I temper this, though, with a feeling of impending doom. I'd like to think that Salford are clearly their own worst enemies. I know this to be untrue - they have  far worse enemies out there.

I fear, though, that after the implantation of the puppet regime at the RFL following the Beaumont putsch, Salford may be first casualty.

[The Future is League]

28 minutes ago, JohnM said:

I too, care about Salford. 

I care, too, about their attempts to stay alive in the most difficult of circumstances in the terra incognita of Rugby League.

I temper this, though, with a feeling of impending doom. I'd like to think that Salford are clearly their own worst enemies. I know this to be untrue - they have  far worse enemies out there.

I fear, though, that after the implantation of the puppet regime at the RFL following the Beaumont putsch, Salford may be first casualty.

Who do you blame for your clubs financial problems?

[bobbruce]

On 14/03/2025 at 19:06, Henson Park Old Firm said:

Can someone in a nutshell brake it down to me (simple as possible) on what exactly happened, why the club is in a mess now, and the "predicted future" of the club... I've been lost in this mess... so confused need clarity.

 

Cheers.

They haven’t got enough money. 
 

[bobbruce]

On 15/03/2025 at 07:16, Celtic Roosters said:

They stopped making them more than 30 years ago. About 43 years ago I wrote and asked why they had stopped? They did bring them back again but they were only sold in Woolworth stores as a trial and you could only buy packets of single flavours. They tasted nothing like the old ones and were soon discarded again.

You should really learn to let things go. 

[bobbruce]

8 minutes ago, The Future is League said:

Who do you blame for your clubs financial problems?

Wigan don’t have financial problems. 

[The Future is League]

2 minutes ago, bobbruce said:

Wigan don’t have financial problems. 

I thought he was referring to the Red Devils or have I misinterpreted his posting?

[bobbruce]

1 minute ago, The Future is League said:

I thought he was referring to the Red Devils or have I misinterpreted his posting?

You asked who do you blame for your clubs financial problems. I think JohnM is a Wigan fan. 

[The Future is League]

On 15/03/2025 at 02:06, Henson Park Old Firm said:

Can someone in a nutshell brake it down to me (simple as possible) on what exactly happened, why the club is in a mess now, and the "predicted future" of the club... I've been lost in this mess... so confused need clarity.

 

Cheers.

They paid wages to player, but didn't have enough money to pay them the wages they did.

[The Future is League]

1 minute ago, bobbruce said:

You asked who do you blame for your clubs financial problems. I think JohnM is a Wigan fan. 

Ok. It came over to me that I thought he was a Red Devils fan