Salford financial issues(again…)

[paul hicks]

1 minute ago, Exiled Wiganer said:

Age partnership may not own FC but they would be an ideal sponsor for Old Faithful. 

indeed, they will be but as Thirkill owns AGE PARTNERSHIP then following the logic that because caddick has a controlling interest in leeds then Caddick construction owns the club .

if caddick construction owns leeds then it follows that AGE PARTNERSHIP owns hull fic.  its either one or the other 

[Celtic Roosters]

6 hours 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.

Seems to me Salford managed pretty well for over 100 years before Super Greed changed all the focus to money rather than sport. I watched them for the first time in 1971 and continued until 2000. I decided then that I could no longer contribute to Super Greed because it will ruin the rest of the game, and it will. Never forget making my making my decision, one of the hardest of my life. Salford were away at Hull and I drove over the Pennines thinking "Shall I, Shan't I"? I'm sure my car wanted to go to Hull but I forced it off the M62 and went to watch Batley .v. Dewsbury. It got much easier after that.

[gingerjon]

5 minutes ago, Celtic Roosters said:

I watched them for the first time in 1971 and continued until 2000. 

Did you forget the bit where they were technically insolvent at the start of the 1980s, a decade of living above their means and thinking the money from the Willows club would get them through?

[JohnM]

34 minutes ago, Celtic Roosters said:

I'm going off what I read on this thread. I used to read League Express as well, and was once a regular contributor, but I finally gave up on that about a month ago.

I don't think this forum is truly representataive. Viewing and spectator numbers might give a better indication.

[JohnM]

19 minutes ago, Celtic Roosters said:

Seems to me Salford managed pretty well for over 100 years before Super Greed changed all the focus to money rather than sport. I watched them for the first time in 1971 and continued until 2000. I decided then that I could no longer contribute to Super Greed because it will ruin the rest of the game, and it will. Never forget making my making my decision, one of the hardest of my life. Salford were away at Hull and I drove over the Pennines thinking "Shall I, Shan't I"? I'm sure my car wanted to go to Hull but I forced it off the M62 and went to watch Batley .v. Dewsbury. It got much easier after that.

Obviously you make you own decisions based on your interpretation of things but....

Salford managed pretty well for over 100 years.

Really? Are you quite sure? These extracts from Wikipedia.

Salford struggled to attract support as there were few local players in the team. In 1881, they almost disbanded but instead merged with the Crescent Football Club.

Salford along with Leigh and Wigan, were suspended for professionalism by the Rugby Football Union in 1895, and placed joint bottom of the Lancashire league. With automatic promotion and relegation, they faced dropping down a division, and potential financial ruin. 

The club had financial problems and was in the hands of the official receiver but somehow in the Championship final, beat Huddersfield's "Team of All Talents" 5–3 on 25 April 1914

In August 1914, the Salford Football Club Company was finally wound up and a new company, Salford Football Club (1914) Limited was formed.

(Then a long period  of reasonable sucess but like the rest of rugby league, money was tight and there were lots of challenges for Salfor and other clubs)

but as  the 1970s drew to a close, many star players had retired or were approaching the veteran stage, with no funds available to replace them. By the end of the 1970s, the  variety centre was losing money and in 1980, it was sold to the brewery Greenhall Whitley.  

It seems the modern era at Salford is copying the old days.

[dboy]

52 minutes ago, Celtic Roosters said:

Seems to me Salford managed pretty well for over 100 years before Super Greed changed all the focus to money rather than sport. 

Not really, no.

 

 

[binosh]

Don’t forgot this year they also have the expense of setting up and running the Elite Academy which I’m led to believe is circa £200k per year, I feel sorry for the players this has Toronto written all over it and they didn’t get any assistance.

[dboy]

6 minutes ago, binosh said:

Don’t forgot this year they also have the expense of setting up and running the Elite Academy which I’m led to believe is circa £200k per year, I feel sorry for the players this has Toronto written all over it and they didn’t get any assistance.

Or the approximate salary of perhaps 1 or 2 of the names signed this off-season??

[LeytherRob]

https://salfordreddevils.net/club-statement-21-11-24/?fbclid=IwZXh0bgNhZW0CMTAAAR2h7iufdUN9vFVUfvp5SAwjNoWHVmi0x-YTTuiBK6yEFZQaxRbyqxosqjs_aem_7bs5I6CHpVYP7rVmr61JOw

Salford Have made a statement:

Disappointingly, yesterday, confidential information was leaked to the media and published with regards to Salford Red Devils financial position.  Unfortunately, the context surrounding the report wasn’t entirely accurate and the Club were not contacted for comment.

With the continued uncertainty surrounding the stadium ownership we have found ourselves in a position where sponsorships and commercial opportunities have been prevented which has left us with a gap on our short-term cash flow. At this moment in time, we still have no clarity on the final timeline for the stadium which makes business forecasting challenging; we have business initiatives ready to implement but find ourselves forced into a holding pattern.

The meeting today was at the request of CEO, Paul King, to apply for an advance on our 2025 distribution to bridge the gap, which requires a League-wide owner vote.  We can confirm that the Super League clubs have met today and agreed to adjourn until Monday to allow more time to consider the documentation provided.

Paul King, CEO, said: “We’re grateful that our fellow clubs are considering our request and we are hopeful for a positive outcome on Monday. Whilst rivalry on the pitch defines our competition, we sincerely appreciate the understanding and efforts to set these aside and empathise with us in a difficult moment. We extend our thanks to each Club for taking the time to consider our request and look forward to competing in another exciting Super League season in 2025”.

The Club will issue a full statement following Mondays Super League meeting.

 

 

[dboy]

It's always someone else's fault.

Maybe they shouldn't have signed the 5 names until this ("stadium uncertainty"), was all sorted.

[LeytherRob]

6 minutes ago, dboy said:

It's always someone else's fault.

Maybe they shouldn't have signed the 5 names until this ("stadium uncertainty"), was all sorted.

It does seem a bit 'blame the messenger, as "the context surrounding the report wasn’t entirely accurate" does seem to imply that the reports were mostly accurate, in which case I'd say the club has a duty to its shareholders to keep them informed and not let them find out in the press.

Edited November 21, 2024 by LeytherRob

[sweaty craiq]

4 minutes ago, dboy said:

It's always someone else's fault.

Maybe they shouldn't have signed the 5 names until this ("stadium uncertainty"), was all sorted.

I heard they signed Chris Hill on a 5 year contract just in case Wolseley made an approach.

[yipyee]

1 hour ago, binosh said:

Don’t forgot this year they also have the expense of setting up and running the Elite Academy which I’m led to believe is circa £200k per year, I feel sorry for the players this has Toronto written all over it and they didn’t get any assistance.

Why run it if they can't afford it??

[daz39]

Maybe Salford and Bradford should play each other annually in the newly created 'Bucket match' where gate receipts and bucket collections are shared between them? 

[dboy]

12 minutes ago, daz39 said:

Maybe Salford and Bradford should play each other annually in the newly created 'Bucket match' where gate receipts and bucket collections are shared between them? 

I've been critical of Bulls on more than one occasion.

Their sense of SL-entitlement rankles still somewhat, but to be fair, they do seem to have things under control and on an even keel financially.

They are a better run club, on the face of it, than the Salford Debt Devils.

Edited November 21, 2024 by dboy

[DG70]

Bit of a circus off the pitch at Salford, which is a shame as it just undermines everything that the coach is trying to build, something has to give.

[Celtic Roosters]

3 hours ago, JohnM said:

I don't think this forum is truly representataive. Viewing and spectator numbers might give a better indication.

That's a fair point JohnM and I'm impressed by your research in your other answer to me. I'm going to leave this topic alone now. Fact is, I welcomed Super Greed like everybody else in 1996, but, within 4 years I grew to dislike what it was, and is doing to the rest of the game, so I made a decision that I can't contribute to it anymore, even thought that meant stopping watching my own local team. I would be telling lies if I said I've never been to a game at this level since because I have been to a few, especially as my Son's continued to follow Salford until this season. I travelled all over the Country watching the game at lower levels, especially amateur, but I concentrate mostly on non league football now. Rugby League is far superior to football for me but it gives me an excuse to explore places I would not normally get to. I rarely watch Super Greed on TV unless it is Salford. I still want Salford to win more than anything. Good luck Salford.

[Agbrigg]

11 minutes ago, Celtic Roosters said:

That's a fair point JohnM and I'm impressed by your research in your other answer to me. I'm going to leave this topic alone now. Fact is, I welcomed Super Greed like everybody else in 1996, but, within 4 years I grew to dislike what it was, and is doing to the rest of the game, so I made a decision that I can't contribute to it anymore, even thought that meant stopping watching my own local team. I would be telling lies if I said I've never been to a game at this level since because I have been to a few, especially as my Son's continued to follow Salford until this season. I travelled all over the Country watching the game at lower levels, especially amateur, but I concentrate mostly on non league football now. Rugby League is far superior to football for me but it gives me an excuse to explore places I would not normally get to. I rarely watch Super Greed on TV unless it is Salford. I still want Salford to win more than anything. Good luck Salford.

So whats your answer to this. Should we scrap SKY money and go back to being a semi pro sport ?

[Worzel]

12 hours 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.

Yeah, good luck finding any elite professional sports league where the money doesn’t matter. 

[Worzel]

4 hours ago, Celtic Roosters said:

Seems to me Salford managed pretty well for over 100 years before Super Greed changed all the focus to money rather than sport. I watched them for the first time in 1971 and continued until 2000. I decided then that I could no longer contribute to Super Greed because it will ruin the rest of the game, and it will. Never forget making my making my decision, one of the hardest of my life. Salford were away at Hull and I drove over the Pennines thinking "Shall I, Shan't I"? I'm sure my car wanted to go to Hull but I forced it off the M62 and went to watch Batley .v. Dewsbury. It got much easier after that.

Great. You’d like to watch a semi-pro sport with part-time players, in crumbing stadiums. We get it.

The rest of us prefer elite sport, televised matches every week, professional players, high performance pathways engaging talented youngsters and rapidly improving spectator facilities.

It takes all sorts eh, each to their own

[dboy]

27 minutes ago, Celtic Roosters said:

That's a fair point JohnM and I'm impressed by your research in your other answer to me. I'm going to leave this topic alone now. Fact is, I welcomed Super Greed like everybody else in 1996, but, within 4 years I grew to dislike what it was, and is doing to the rest of the game, so I made a decision that I can't contribute to it anymore, even thought that meant stopping watching my own local team. I would be telling lies if I said I've never been to a game at this level since because I have been to a few, especially as my Son's continued to follow Salford until this season. I travelled all over the Country watching the game at lower levels, especially amateur, but I concentrate mostly on non league football now. Rugby League is far superior to football for me but it gives me an excuse to explore places I would not normally get to. I rarely watch Super Greed on TV unless it is Salford. I still want Salford to win more than anything. Good luck Salford.

Salford aren't a basket case because of Sky, or SL, or the RFL or IMG, or phases of the moon...

They are a basket case because they have a long history of being unable to run their business professionally.

They buy players they can't afford, don't pay their rent, and ask for handouts/bailouts/advances at every turn.

They are a Rugby League ponzi scheme.

I hope the other clubs force them to sell on players to pay their own way out of this self-created mess.

[preid]

Interesting part from the Salford statement tonight:

'The club has also emphatically stressed to Love Rugby League that there is no consideration or discussion about the club losing IMG points over the matter as things stand'.

So, there is a (real) possibility that they could be docked points which, given that Toulouse are only 0.39 behind them currently, would not require much of a reduction. The language used is similarly obfuscous as where they say that the original report was 'not entirely accurate' i.e. it was largely accurate.

Might Toulouse lodge an objection as well and would they have enough time to assemble a strong enough squad if they were parachuted in ?

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Edited November 21, 2024 by preid

[Hopie]

Ruddy hell, a lot of posts hoping this is worse than it looks. Club rivalries should be about hoping other teams lose the match, not that the people working their lose their jobs.

[Dullish Mood]

6 hours ago, dboy said:

Not really, no.

 

 

Tell me who have managed “pretty well” over the last 100 years in RL.  Looking forward to your response.

[The Future is League]

5 hours ago, LeytherRob said:

https://salfordreddevils.net/club-statement-21-11-24/?fbclid=IwZXh0bgNhZW0CMTAAAR2h7iufdUN9vFVUfvp5SAwjNoWHVmi0x-YTTuiBK6yEFZQaxRbyqxosqjs_aem_7bs5I6CHpVYP7rVmr61JOw

Salford Have made a statement:

Disappointingly, yesterday, confidential information was leaked to the media and published with regards to Salford Red Devils financial position.  Unfortunately, the context surrounding the report wasn’t entirely accurate and the Club were not contacted for comment.

With the continued uncertainty surrounding the stadium ownership we have found ourselves in a position where sponsorships and commercial opportunities have been prevented which has left us with a gap on our short-term cash flow. At this moment in time, we still have no clarity on the final timeline for the stadium which makes business forecasting challenging; we have business initiatives ready to implement but find ourselves forced into a holding pattern.

The meeting today was at the request of CEO, Paul King, to apply for an advance on our 2025 distribution to bridge the gap, which requires a League-wide owner vote.  We can confirm that the Super League clubs have met today and agreed to adjourn until Monday to allow more time to consider the documentation provided.

Paul King, CEO, said: “We’re grateful that our fellow clubs are considering our request and we are hopeful for a positive outcome on Monday. Whilst rivalry on the pitch defines our competition, we sincerely appreciate the understanding and efforts to set these aside and empathise with us in a difficult moment. We extend our thanks to each Club for taking the time to consider our request and look forward to competing in another exciting Super League season in 2025”.

The Club will issue a full statement following Mondays Super League meeting.

 

 

So they get an advance payment, so what happens after that. Do they keep getting advance payments?

At some stage there won't be any advanced payments to have as they would have used them up.

That is a not a business plan any bank or accountant would find acceptable.