RL Commercial has today confirmed that Salford Red Devils’ formal request of an advance against the club’s existing distribution entitlements has been agreed.
This has been agreed on the condition of central involvement in and scrutiny of a more sustainable long-term trading position for Salford Red Devils.
The club has stated: “We are working on driving the Club forwards to be a commercially viable entity, achieving IMG Grade A status and sitting at the heart of the community as a Club that the City of Salford can be proud of.
“Central to this is completion of the stadium ownership. We have been and continue to actively look for investment partners to support the long-term ambitions of the Club.
Paul King, Salford’s chief executive, said: “Thanks to RL Commercial for working with us on this matter. This affords time for the Club to consider all investment options and to continue to collaborate with the council and our friends at Sale Sharks to support the purchase of the stadium.
“We are hopeful that is imminent, at which point we look forward to progressing the build of our Advertising Screen, to provide the Club with an additional revenue source.”
Today’s Super League meeting was cancelled because it is the responsibility of Rugby League Commercial, and not the Super League clubs, to determine the basis of distribution entitlements.
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