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Posted
11 minutes ago, paul hicks said:

if this had come to light before the gradings were finalised, would it have had any impact on the points Salford received?

Any insolvency event would mean a full downgrade the following year, so Salford would drop from B to C and be relegated. 

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As for what constitutes an 'insolvency event', this is from the RFL website:

 

4.10 An "Insolvency Event" shall occur if:

(a) a Member is a company within the meaning of section 1 of the Companies Act 2006 ("the 2006 Act") and any process, application or event mentioned in (i) to (ix) (inclusive) below occurs in relation to the Member:

(i) the Member is deemed unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 ("the 1986 Act"); Articles of Association of RFL (Governing Body) Limited – December 2020

(ii) any demand under section 123(1)(a) of the 1986 Act is served on the Member, any petition is presented, an order is made (including for the appointment of a provisional liquidator) or resolution passed for the winding up of the Member or a notice is issued convening a meeting for the purpose of passing any such resolution (yet excluding any such analogous proceedings relevant to a members’ voluntary liquidation);

(iii) an application is presented for an administration order or any notice of the appointment or of intention to appoint an administrator of the Member is filed in court or an administration order or interim order is made in relation to the Member in each case within the meaning of the 1986 Act;

(iv) any administrative or other receiver or manager is appointed of the Member or of all or any part of its assets and/or undertaking within the meaning of Part III of the 1986 Act or otherwise or any other step is taken to enforce any encumbrances over all or any part of the assets and/or undertaking of the Member;

(v) any step is taken, or any negotiations are commenced, by the Member or its directors, with a view to proposing any kind of composition, compromise or arrangement involving the Member and any of its creditors, including but not limited to a voluntary arrangement under Part I of and/or Schedule A1 to the 1986 Act or a compromise or arrangement under Part Xiii of the 2006 Act; or

(vi) the Member ceases or forms an intention to cease wholly or substantially to carry on business save for the purpose of reconstruction or amalgamation or otherwise in accordance with a scheme of proposals which have previously been submitted to and approved in writing by the Board and which are not already covered by the remainder of this Bye-law 4.10(a);

(vii) any proceeding or step taken as set out in Bye-laws 4.10(a) (i) to (vi) above in relation to any other company which is part of a group of companies that includes the Member and for the purposes of this clause “group” shall be as defined in the 2006 Act;

(viii) the Member is subject to any insolvency regime in any jurisdiction outside of England and Wales which is analogous to the processes detailed in Byelaws 4.10(a) (i) to (vii) above; and/or

(ix) any proceeding or step is taken or any court order made in any jurisdiction made which has a substantially similar effect to any of the foregoing.

(b) a Member is not a company and any process, application or event which would be an Insolvency Event if that Member were a company or which is considered by the Board in its absolute discretion to be similar to one of the events listed above, occurs in relation to the owner or owners, member or members, sole trader or partners of that Member, as appropriate.

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Posted
45 minutes ago, paul hicks said:

if this had come to light before the gradings were finalised, would it have had any impact on the points Salford received?

No, because the grading don't measure potential, just what is available at the time of assessment. 

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Posted
1 hour ago, Worzel said:

Yes, I think that would be wise 😬

Mind you, if she is genuinely Joanne Whitaker  then she could sort Salford out on her own. 

Steady.  Indeed she is, but trust me she ain’t THAT loaded.  Just wish she/we could influence old Fred for one final financial gesture.  Not happening though 🤨

Posted
12 hours ago, Vyvyan said:

Nice to see the usual suspects showing sympathy toward Salford supporters at this difficult time.

 

Yes there are several on here @dboy in particular.

Re Benefactors - My point concerned Individual Benefactors - Not Councils.

Agree with a post on the Salford Forum.  Surely this is a Banking situation where a short term loan with the 2025 monies from Sky positioned as Guarantors. 

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Posted
3 minutes ago, Segovia Carpet said:

Yes there are several on here @dboy in particular.

Re Benefactors - My point concerned Individual Benefactors - Not Councils.

Agree with a post on the Salford Forum.  Surely this is a Banking situation where a short term loan with the 2025 monies from Sky positioned as Guarantors. 

This is the trouble though isn't it? What do you then do next year when you are inevitably short again? Robbing Peter to pay Paul only lasts for so long. So does people's appetite to back fundraisers.

I've always had a soft spot for Salford and think a strong presence there would be good for the game. However there is no denying they have been running on the smell of an oily rag for quite sometime. Its only by sheer good fortune they haven't gone bust by now. If they keep doing the same things with the same results then sooner or later that luck is going to come to an end.

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Posted
8 hours ago, Dullish Mood said:

Steady.  Indeed she is, but trust me she ain’t THAT loaded.  Just wish she/we could influence old Fred for one final financial gesture.  Not happening though 🤨

Please Ask her to speak to Fred about leaving a tiny drop of £50 million in his Will.  The old boy is getting no younger @81.

Posted
8 hours ago, The Future is League said:

Well if financial competence was part of the IMG grading Salford Red Devils would be bottom of the Super League clubs by a country mile, and below a lot of championship clubs as well.

So would Huddersfield without Ken Davy & Family.

Posted (edited)
10 hours ago, paul hicks said:

if this had come to light before the gradings were finalised, would it have had any impact on the points Salford received?

Doubt it. It's almost (as with licencing) like the financial criteria don't actually measure how viable and sound a club is.

Also note Halifax's financial score went up from the indicative gradings despite their publicised financial problems. 

Edited by Les Tonks Sidestep
Posted
20 minutes ago, Les Tonks Sidestep said:

Doubt it. It's almost (as with licencing) like the financial criteria don't actually measure how viable and sound a club is.

Also note Halifax's financial score went up from the indicative gradings despite their publicised financial problems. 

Isn't this just a case of the brown stuff hitting the fan since the last accounts being filed? So would show up in the next round of scoring?

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Posted

What a nasty, bitter place Super Greed is? It's all about money - not sport. I'm glad I gave up on it 24 years ago. I still enjoy amateur Rugby League occasionally. I know a lot of fantastic people who support Salford, and the percentage of home fans that travel away would be in the top 5. Unfortunately, the City largely cares more about Manchester United and City than Rugby League. I hope Salford can get through this, but only for the sake of the fans. Good luck.

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Posted
16 minutes ago, Celtic Roosters said:

What a nasty, bitter place Super Greed is? It's all about money - not sport. I'm glad I gave up on it 24 years ago. I still enjoy amateur Rugby League occasionally. I know a lot of fantastic people who support Salford, and the percentage of home fans that travel away would be in the top 5. Unfortunately, the City largely cares more about Manchester United and City than Rugby League. I hope Salford can get through this, but only for the sake of the fans. Good luck.

Top flight sport is about money shocker!

Name one that isn’t.

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Posted
1 hour ago, Omott91 said:

Hopefully Toulouse can take their place as they're the 13th team on gradings.

On a serious note, it's probably too late for another club to take Salford's place if the worst came to the worst as they'd have to try to get a squad together when most players are now signed up for next season and also upgrade their off field organization. 

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Posted
37 minutes ago, Celtic Roosters said:

What a nasty, bitter place Super Greed is? It's all about money - not sport. I'm glad I gave up on it 24 years ago. I still enjoy amateur Rugby League occasionally. I know a lot of fantastic people who support Salford, and the percentage of home fans that travel away would be in the top 5. Unfortunately, the City largely cares more about Manchester United and City than Rugby League. I hope Salford can get through this, but only for the sake of the fans. Good luck.

If you gave up on it 24 years ago, how do you know it's a nasty bitter place? 

Reminder: https://youtu.be/4JDWJzKYfdc?si=KLyweuGV0kmgq4OJ

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Posted
12 hours ago, Dullish Mood said:

We get it….you hate Salford.

I don't hate Salford, but if I did, it would be reflective of Salford's standards, not mine.

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Posted
57 minutes ago, phiggins said:

Isn't this just a case of the brown stuff hitting the fan since the last accounts being filed? So would show up in the next round of scoring?

Yep, finances are scored on the last completed tax year so have to be on a delay, especially when factoring the audit process. Clubs will be submitted their accounts around June to IMG for next years scoring.

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Posted
50 minutes ago, Celtic Roosters said:

What a nasty, bitter place Super Greed is? It's all about money - not sport. 

Greed?

It's about paying your bills!

It's about only spending the money you earn.

Salford Debt Devils have a track record of being unable to run their business properly.

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Posted
6 minutes ago, dboy said:

Greed?

It's about paying your bills!

It's about only spending the money you earn.

Salford Debt Devils have a track record of being unable to run their business properly.

Keep up @dboy.  Not One of the other 11 clubs would be able to pay their bills on time without the financial support of their major benefactor. 

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Posted
1 minute ago, Segovia Carpet said:

Keep up @dboy.  Not One of the other 11 clubs would be able to pay their bills on time without the financial support of their major benefactor. 

But they have the money, regardless of how they get it.

Salford spend it first, then worry about where it's coming from.

Do you run your household like that.

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Posted
1 hour ago, Celtic Roosters said:

What a nasty, bitter place Super Greed is? It's all about money - not sport.

"if they cannot afford to play, they should go without the game" - Harry Garnett, 1886

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Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett)

Posted
24 minutes ago, gingerjon said:

"if they cannot afford to play, they should go without the game" - Harry Garnett, 1886

That corinthian spirit at it again.

Posted
32 minutes ago, Segovia Carpet said:

Keep up @dboy.  Not One of the other 11 clubs would be able to pay their bills on time without the financial support of their major benefactor. 

Not really relevant though is it...

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