Salford financial issues(again…)

[Bull Mania]

29 minutes ago, Segovia Carpet said:

The news must be so disappointing for @dboy, the majority of Leigh folk on here and others on here wishing the end of a great club like Salford.

I did say it was a short term cash flow problem  - Mr King has been totally honest about the situation and if the RFL did not accept the position the club would have spoken to their Bankers to seek a temporary advance against the Sky monies to come.  Only difference being is that they would have had to pay interest.

Time to move on and we will be looking forward to visiting Belle Vue (or whatever name it will be in 2025) next season.

In fairness it's the third year in a row they've had "short term cash issues" 

Great news though! Salford are a great historic club. The sport can't afford to be losing any clubs. Happy for the fans too as having being there ourselves on multiple occasions, its tough to take. Really hope they sort themselves out though, and not thinking this stadium deal or billboard are the silver bullet.

This does feel like the final straw though and I don't think the sport will be willing for anymore advanced payments after today. 

[sweaty craiq]

37 minutes ago, Segovia Carpet said:

The news must be so disappointing for @dboy, the majority of Leigh folk on here and others on here wishing the end of a great club like Salford.

I did say it was a short term cash flow problem  - Mr King has been totally honest about the situation and if the RFL did not accept the position the club would have spoken to their Bankers to seek a temporary advance against the Sky monies to come.  Only difference being is that they would have had to pay interest.

Time to move on and we will be looking forward to visiting Belle Vue (or whatever name it will be in 2025) next season.

Leigh fan here, wish Salford could attract fans and a benefactor to create a great future, but taking ownership of their own creation is what I most wish for them. They are a basket case commercially - our play off was a case in point, we would have paid at least a tenner more on the ticket price and sold just as many. They gave the fixture away to court the council leaving probably £100k out of the coffers

[Archie Gordon]

It's the only decision that could have been made. But I do hope the game plans better for this scenario (or similar) when it happens again.

[binosh]

54 minutes ago, Segovia Carpet said:

The news must be so disappointing for @dboy, the majority of Leigh folk on here and others on here wishing the end of a great club like Salford.

I did say it was a short term cash flow problem  - Mr King has been totally honest about the situation and if the RFL did not accept the position the club would have spoken to their Bankers to seek a temporary advance against the Sky monies to come.  Only difference being is that they would have had to pay interest.

Time to move on and we will be looking forward to visiting Belle Vue (or whatever name it will be in 2025) next season.

Nonsense, no one is disappointed we need Salford to be strong however they already spend the lowest in SL and STILL cannot fund that, it’s about time they shake off the victim mentality and treat it like a business and not a charity.

[dboy]

53 minutes ago, Segovia Carpet said:

The news must be so disappointing for @dboy, the majority of Leigh folk on here and others on here wishing the end of a great club like Salford.

I did say it was a short term cash flow problem  - Mr King has been totally honest about the situation and if the RFL did not accept the position the club would have spoken to their Bankers to seek a temporary advance against the Sky monies to come.  Only difference being is that they would have had to pay interest.

Time to move on and we will be looking forward to visiting Belle Vue (or whatever name it will be in 2025) next season.

No *Insert insulting name here, conveying the stupidity of SegoviaCarpet*, it's good news that Salford can move forward in the short term.

No, I don't want to see the end of Salford and I won't waste my time inviting you to show otherwise.

No, it's not a cash flow problem, it's a "not enough cash in the first place problem". How can you not have enough money from 3 months operational costs under any acceptable business model.

I'm sure all in the garden is rosy going forward.

Yes?

[binosh]

Can we pin this thread I have a feeling we will need it again.

[Wollo Wollo Wayoo]

1 hour ago, Segovia Carpet said:

Time to move on and we will be looking forward to visiting Belle Vue (or whatever name it will be in 2025) next season.

Is the "covid card" still in the clubs back pocket?

[dkw]

Great news that IMG have approved the saving of Salford Red Devils...

[DEANO]

1 minute ago, dkw said:

Great news that IMG have approved the saving of Salford Red Devils...

Img only has the backs of the chosen ones 

[Segovia Carpet]

We would love to have a benefactor of course but the obvious one is the Salford Billionaire Fred Done who through  Bet Fred is already funding Every Super League club. 

A lot of bitterness on here from the usual suspects but the bottom line is Super League as a whole  is a Loss making business.  Every club loses money and last year Salford lost less money than the other 11 so bear that in mind folks.

[wroteforluck87]

Thats an interest point would it even be allowed for Bet Fred to sponsor the league and pump money in to SRD? I did read on on here somewhere that he has no desire to do so in any case.. I was just wondering about the legality of such a incident

[Zilla Budgie]

Bless

[dboy]

40 minutes ago, Segovia Carpet said:

We would love to have a benefactor of course but the obvious one is the Salford Billionaire Fred Done who through  Bet Fred is already funding Every Super League club. 

A lot of bitterness on here from the usual suspects but the bottom line is Super League as a whole  is a Loss making business.  Every club loses money and last year Salford lost less money than the other 11 so bear that in mind folks.

If you paid your rent how much would your actual losses be?

SRD are, to all intents and purposes, bankrupt. 

The difference is, even if the other clubs don't generate an excess income, they have other sources of funding/benefactors.

 

[LeytherRob]

2 minutes ago, Segovia Carpet said:

We would love to have a benefactor of course but the obvious one is the Salford Billionaire Fred Done who through  Bet Fred is already funding Every Super League club. 

A lot of bitterness on here from the usual suspects but the bottom line is Super League as a whole  is a Loss making business.  Every club loses money and last year Salford lost less money than the other 11 so bear that in mind folks.

I've seen that point repeated on here countless times by various posters and i still fail to understand what the point is supposed to be. Yes, the other 11 clubs run varying levels of loss, they do so because they can since there is someone there to guarantee the additional money - if they didn't there would be threads on here about those too and rightly so. They aren't spending money they don't have whereas Salford currently are and that is why Salford are in special measures for the 2nd time in just over a year despite a minimum of £1.2M in additional funding through player sales and council loans/grants. It isn't bitterness or picking on Salford to point out basic facts.

[sam4731]

Good to know that IMG are making sure the right teams are in SL. And yes this is IMG's fault, they devised the grading system that delivered Salford a top 12 finish.

[Segovia Carpet]

@dboy having a tough day with his anti Salford vitriole.  Get some sleep lad or start a new craze.  Mabe discuss Wakeys chances for 2025.

[DEANO]

No wonder people are walking away from the game outside sl. I guess it’s all part of the plan

[Dullish Mood]

Salford safe, dboy et al can have their blood pressure tablets and a nice lie down, thread can be locked.  Simply luvurly….

[Worzel]

13 minutes ago, sam4731 said:

Good to know that IMG are making sure the right teams are in SL. And yes this is IMG's fault, they devised the grading system that delivered Salford a top 12 finish.

You want it to be solely done on financial metrics? Sounds a bit limited. 

[Exiled Wiganer]

41 minutes ago, sam4731 said:

Good to know that IMG are making sure the right teams are in SL. And yes this is IMG's fault, they devised the grading system that delivered Salford a top 12 finish.

Red lights have gone off on a dozen laptops after that comment. 

[The Future is League]

The clubs have given the Red Devils a bit of breathing space and also at the same time made sure they didn't lose a home game.

The Red Devils won't be so lucky next year as now they other Super League clubs are fully aware of the Red Devils situation.

Teams like Oldham, Toulouse etc are hovering waiting to take the Red Devils place in Super League in 2026 if the Red Devils financial situation doesn't improve.

[LeytherRob]

1 hour ago, Segovia Carpet said:

@dboy having a tough day with his anti Salford vitriole.  Get some sleep lad or start a new craze.  Mabe discuss Wakeys chances for 2025.

1 hour ago, Dullish Mood said:

Salford safe, dboy et al can have their blood pressure tablets and a nice lie down, thread can be locked.  Simply luvurly….

Dboy and most other people and pretty much everyone on here is having a fairly civilised debate and discussing the facts as we know them, you two are the only ones here trying to make things personal so maybe you should both get some sleep as you put it.

[sam4731]

9 hours ago, Worzel said:

You want it to be solely done on financial metrics? Sounds a bit limited. 

No but I'd like limiting factors, like being sustainable financially.

[gingerjon]

9 hours ago, Exiled Wiganer said:

Red lights have gone off on a dozen laptops after that comment. 

Which sport was it that you've got your ten year long connection with IMG through?

[gingerjon]

24 minutes ago, sam4731 said:

No but I'd like limiting factors, like being sustainable financially.

So should that be worth more than it currently is and how would you have set it up so Salford scored low enough on it for it be worth demotion versus, say, Toulouse now getting a high enough score on it to come in?