SALFORD chief executive Paul King is hoping that a proposed takeover of his club will be completed by Tuesday and that the RFL will respond to the new ownership by withdrawing its requirement for the Red Devils to reduce their salary cap spend for the 2025 season to £1.25 million.
King insists that no deals have been agreed for other clubs to acquire Salford players, although he admits that some discussions have taken place.
But following last week’s decision not to give salary cap exemptions to Super League clubs to allow them to bid for Salford players, there are only a limited number of clubs that would be able to add new players to their salary cap, while the RFL is not allowing Salford to register players until it can comply with its reduced salary cap.
“We can sell to only four clubs – Castleford, Wakefield, Leigh and Hull, although that might change by this Wednesday following another RFL meeting,” King told League Express.
“We have been offered a minimal transfer fee, for example, for one of our leading players.”
At this Wednesday’s meeting League Express understands that the clubs will agree to a two-week period in which the above four clubs will be able to bid for Salford players with a view to reaching the maximum salary cap level.
After that period expires, all the clubs will be given a dispensation to sign any Salford players who remain unsigned, on the assumption that Salford’s reduced salary cap is still in place.
King is reluctant to reveal details of the potential new investors because of non-disclosure agreements that have been signed, but he believes that the prospect of a final agreement is now within touching distance.
“The sale of the club is still on track and we are confident that if it goes through and we have the salary cap restriction removed, then we could have a very successful season with our current squad,” he added.
However, King is also conscious of the damage that has been done to the club by the recent speculation about its future.
“We have had several supporters demanding refunds on their season tickets. I withdrew from social media two months ago but I’m conscious of some of the conspiracy theories that have been linked to me on social media, with all sorts of ridiculous claims.
“The fact is that I’ve mortgaged my house to give personal guarantees to the bank and if the club were to go into liquidation, then I would be bankrupted and I would lose my home.”
King has been criticised for spending decisions that relied on promises from Salford Council early last year for a grant of £315,000, which he discovered on November 4 last year wouldn’t be forthcoming.
“The budgeting process always involves projecting future income and expenditure and inevitably that means that some anticipated income may not transpire,” he said.
“But none of the contracts with players were agreed after November 4.
“In addition I would point out that the completion of the deal for Salford Council to buy the stadium was originally set for 2023 and, now that it has been done, we are still waiting for a meeting to clarify the rent and our ability to generate income from the stadium in future.
“It has also been frustrating not being able to start work on the giant screen that will be attached to the stadium and that will allow us to generate significant amounts of advertising income.
“But I am conscious that I don’t want to be perceived as moaning about the Council. I don’t blame them; they are entitled to have other priorities.
“I’m the CEO and accept full responsibility; that’s the burden of leadership, sometimes you’re the hero and sometimes the villain. I’ve never claimed I’ve got everything right.
“I walked in as a fan and put my hand up because nobody else would.
“I’ve given it my best shot and we’ve had our most successful period since the 70s, so I’m proud of what we’ve achieved.
“Now I’m working flat out to ensure my legacy isn’t being the guy at the helm when the club goes under.”
