Salford financial issues(again…)

[Wollo Wollo Wayoo]

Probably hanging on till Friday, hoping the Cas takeover will be more topical.

[Dave T]

6 minutes ago, JonM said:

I haven't been following this situation very closely, and perhaps this has already been discussed. A prepack would mean losing 50% of the "Finance" score in the IMG gradings (half of 2.15 for Salford), which seems highly likely to put them below Toulouse in the rankings. Do we still have a 12-league table points deduction for entering administration? So, there would potentially be a smaller effect on the rankings due to lower Performance too?

Yeah that's what I was thinking when I mentioned the points deduction. It's not my area of expertise, but I'm not sure how the finances section of grading works at all really if it's a phoenix club.

[The Masked Poster]

4 minutes ago, RP London said:

What do you want them to do, kick them out?

They are trying to help Salford by allowing them to stay afloat while a buyer is found, they are also forcing them to cut their cloth in case that doesn't happen and by cutting their cloth they may be able to make it to the end of the season. 

Conversations pre this point are not known, neither are current conversations, and to speculate on what was said or that they didnt happen would be pure speculation. I will bag the RFL as quick as the next person, when it is appropriate. At the moment they appear to be doing their best for Salford to stay with us and I don't think that is a bad thing. 

Business sales can drag on for a multitude of reasons and it 100% isn't the place for the RFL to get directly involved in that, unless they are requesting information from the RFL of course. If it is a fit and proper persons check that holds it up then maybe the RFL could expedite this but even that shouldn't be rushed. If the RFL meddle too much in this there'll be buyers who will just walk away from the purchase due to that meddling. 

If there is no news to tell what do you want them to say?

If this had just happened, then fair enough give them some slack and time to sort it out. As it is, it's anything but. And they seem to be taking advantage of the "what do we do, kick them out?" argument. 
Plenty of clubs have had to step back and regroup, if they can't sort it out - or just keep making bogus claims- then yeah, address the issue and take relevant steps, however hard that may be.

Otherwise the next team to run into financial difficulties will expect similar leniency. And the one after that. Which rather makes a mockery of having standards such as the IMG ones. 

[M j M]

Deals take time to complete and there are always, always delays.  The fact that there has been no suggestion it's fallen apart is a good sign to me.

[RP London]

2 minutes ago, The Masked Poster said:

If this had just happened, then fair enough give them some slack and time to sort it out. As it is, it's anything but. And they seem to be taking advantage of the "what do we do, kick them out?" argument. 
Plenty of clubs have had to step back and regroup, if they can't sort it out - or just keep making bogus claims- then yeah, address the issue and take relevant steps, however hard that may be.

Otherwise the next team to run into financial difficulties will expect similar leniency. And the one after that. Which rather makes a mockery of having standards such as the IMG ones. 

As I said judging them on conversations we are unaware of seems unfair. How do you know the claims are bogus? sales fall through for any number of reasons that are not the clubs fault.. they also can take a long time that, again, are not the clubs fault. 

I get the fact they could have been kicked into touch at the last set of gradings but, again, that would go against the IMG gradings which is about facts at the time and not subjective opinions (otherwise you will just get lied to, as they did in the past with sketches of new grounds etc). 

I am not sure they are getting "leniency" they are being given a bail out, but then clubs have previously too, but with strings attached which are going to be painful. Those strings are more than likely, if nothing changes, mean they will get relegated next time around (if the other clubs vying for a place get their act together, it is an open door at the moment). 

If the RFL had said "nope you dont get the money" then I would expect this board would have lit up with people complaining they werent given a chance to sort the situation out.. 

RFL damned if the do damned if they dont on this one IMHO

[RP London]

6 minutes ago, M j M said:

Deals take time to complete and there are always, always delays.  The fact that there has been no suggestion it's fallen apart is a good sign to me.

Yep, think about how painful it can be selling a house and multiply it in complexity.

[rugbyleaguerunner]

15 minutes ago, Wollo Wollo Wayoo said:

Probably hanging on till Friday, hoping the Cas takeover will be more topical.

obsessed

[DemonUK]

Sorry, link error

Edited January 28 by DemonUK
Link error

[Agbrigg]

13 minutes ago, M j M said:

Deals take time to complete and there are always, always delays.  The fact that there has been no suggestion it's fallen apart is a good sign to me.

Agreed, but there is no evidence to suggest a credible buyer actually exists. For instance Hull and Wakefield have recently been bought by new owners and the identity of the buyers were known prior to the final deal agreement. If the mysterious buyers of Salford actually existed, I find it hard to believe their identity would not have been leaked by now.

[DemonUK]

A top up yours again from SRD.  They are still signing players 

[The Masked Poster]

13 minutes ago, RP London said:

As I said judging them on conversations we are unaware of seems unfair. How do you know the claims are bogus? sales fall through for any number of reasons that are not the clubs fault.. they also can take a long time that, again, are not the clubs fault. 

I get the fact they could have been kicked into touch at the last set of gradings but, again, that would go against the IMG gradings which is about facts at the time and not subjective opinions (otherwise you will just get lied to, as they did in the past with sketches of new grounds etc). 

I am not sure they are getting "leniency" they are being given a bail out, but then clubs have previously too, but with strings attached which are going to be painful. Those strings are more than likely, if nothing changes, mean they will get relegated next time around (if the other clubs vying for a place get their act together, it is an open door at the moment). 

If the RFL had said "nope you dont get the money" then I would expect this board would have lit up with people complaining they werent given a chance to sort the situation out.. 

RFL damned if the do damned if they dont on this one IMHO

Mate, the situation with Salford has been going on for a few years now in one way or the other. It is at this stage now because it's been allowed to get this bad. I don't think the RFL are completely to blame but they are supposed to be the leaders. Rather like a manager of a department or something, if they don't do their job the department doesn't function well. 

As for leniency, they actually seem to be calling the shots and ignoring instructions like sell players. 

[The Masked Poster]

10 minutes ago, Agbrigg said:

Agreed, but there is no evidence to suggest a credible buyer actually exists. For instance Hull and Wakefield have recently been bought by new owners and the identity of the buyers were known prior to the final deal agreement. If the mysterious buyers of Salford actually existed, I find it hard to believe their identity would not have been leaked by now.

This is my issue. If the bid is genuine (and I'm not saying it isn't) then why can't we have a little bit more info about it? Not names and addresses etc, just a tiny bit of meat on the bones. Otherwise a sceptic might think they were just buying more time. 

[Archie Gordon]

7 minutes ago, The Masked Poster said:

Mate, the situation with Salford has been going on for a few years now in one way or the other. It is at this stage now because it's been allowed to get this bad. I don't think the RFL are completely to blame but they are supposed to be the leaders. Rather like a manager of a department or something, if they don't do their job the department doesn't function well. 

As for leniency, they actually seem to be calling the shots and ignoring instructions like sell players. 

There have been several possible opportunities for intervention over the past 18 months - the governing body has chosen not to, nor has it set any deadlines for action. It is no surprise, therefore, that all the parties - SRD, Council, investors - are working at their own pace.

[rugbyleaguerunner]

25 minutes ago, DemonUK said:

A top up yours again from SRD.  They are still signing players 

I saw it as a cheap loan deal to potentially replace a higher earner who looks set to leave

 

could be wrong like

[Charlie]

3 minutes ago, rugbyleaguerunner said:

I saw it as a cheap loan deal to potentially replace a higher earner who looks set to leave

 

could be wrong like

There will be no players leaving in the next week at least 

[Agbrigg]

18 minutes ago, The Masked Poster said:

This is my issue. If the bid is genuine (and I'm not saying it isn't) then why can't we have a little bit more info about it? Not names and addresses etc, just a tiny bit of meat on the bones. Otherwise a sceptic might think they were just buying more time. 

Precisely, have things Changed ? thought any buyer of a SL club also had to prove their credibility to the RFL. If this purported consortium had already been through that process, their identity would have already been known by now. If they haven't then it suggests their is nothing behind any of this

[Charlie]

4 minutes ago, Agbrigg said:

Precisely, have things Changed ? thought any buyer of a SL club also had to prove their credibility to the RFL. If this purported consortium had already been through that process, their identity would have already been known by now. If they haven't then it suggests their is nothing behind any of this

Except the part we’re the rfl have told other sl clubs they’ve received an offer ? As told by Matt shaw and few others last week 

[Charlie]

With chan coming in I believe Ormondroyd goes to cas, as a Salford fan I think this move makes scenes 

[RP London]

36 minutes ago, The Masked Poster said:

Mate, the situation with Salford has been going on for a few years now in one way or the other. It is at this stage now because it's been allowed to get this bad. I don't think the RFL are completely to blame but they are supposed to be the leaders. Rather like a manager of a department or something, if they don't do their job the department doesn't function well. 

As for leniency, they actually seem to be calling the shots and ignoring instructions like sell players. 

Mate.. I'm aware of the situation and I point you back to my previous post on this. Do you know what is being said behind closed doors about the situation and what is actually going on? do you know the RFL arent doing all they can to make this situation better? At which point do you just let them go and fail, many businesses have to make these decisions on failing departments etc and if you have the perfect answer to when and how then I am sure there are CEOs of FTSE 100 companies who would love to hear from you. 

Again damned if you do damned if you dont.

[phiggins]

1 hour ago, Charlie said:

It’s there money anyway just early I’m not sure what some of you think the rfl can do in this situation 

I've seen this mentioned a lot, that it was their own money, and not sure I agree. I get paid tomorrow, until then, it isn't my money. The RFL / RL commercial will have had their own cash flow to manage, and advances like this, will have an impact on that. It's more like an interest free loan, with the RFL taking repayments in form of reduced future central funding.

They could definitely have done more to enforce the conditions of the advance, by confirming the consequences of non-compliance up front. Could've set a deadline where if costs hadn't been cut then competition points could be docked. (Given the grading system, this wouldn't be as harsh a punishment as it would have been a couple of years ago).

[RP London]

1 minute ago, phiggins said:

I've seen this mentioned a lot, that it was their own money, and not sure I agree. I get paid tomorrow, until then, it isn't my money. The RFL / RL commercial will have had their own cash flow to manage, and advances like this, will have an impact on that. It's more like an interest free loan, with the RFL taking repayments in form of reduced future central funding.

They could definitely have done more to enforce the conditions of the advance, by confirming the consequences of non-compliance up front. Could've set a deadline where if costs hadn't been cut then competition points could be docked. (Given the grading system, this wouldn't be as harsh a punishment as it would have been a couple of years ago).

I do agree that I would like to see the punishments/sale of players being enforced, but you cannot sell if you dont have a buyer so are clubs just not offering? and we really dont want them just terminating players surely.. 

[rugbyleaguerunner]

16 minutes ago, Charlie said:

With chan coming in I believe Ormondroyd goes to cas, as a Salford fan I think this move makes scenes 

That's actually what I was alluding to but you said nobody would be leaving

[Taffy Tiger]

5 minutes ago, RP London said:

I do agree that I would like to see the punishments/sale of players being enforced, but you cannot sell if you dont have a buyer so are clubs just not offering? and we really dont want them just terminating players surely.. 

 

Several offers were made for players

Definitely don't want them terminating players , very harsh 

Edited January 28 by Taffy Tiger

[phiggins]

3 minutes ago, Taffy Tiger said:

 

Definitely don't want them terminating players , very harsh 

"When we said you need to cut costs, that's not what we had in mind..."

[RP London]

4 minutes ago, Taffy Tiger said:

 

Several offers were made for players

Definitely don't want them terminating players , very harsh 

can pocket the death in service benefits maybe?