A TAKEOVER of Salford, led by Swiss investment banker Dario Berta, has been completed on the eve of the new season.
Full ownership has been handed to a consortium who have already cleared all of the club’s debt.
The deal, subject to final approval from the RFL, ends a lengthy saga over Salford’s future following a tumultuous winter.
In a statement, the Red Devils said that their new owners “will deliver additional significant investment for the future growth of the club”.
Zurich-based Berta is the CEO of Matanel, an investment bank that specialises in real estate investment.
He has previously held leadership roles at global financial giant UBS and Valartis Bank.
The club will be run on a day-to-day basis by Chris Irwin, who returns to Salford as chief executive officer.
A former Leigh and Swinton player, Irwin headed the club’s commercial department before a short stint in a similar role at football club Exeter City.
“This is the start of a very bright and successful future for Salford Red Devils,” said Berta.
“I’m very proud to be involved, and with Chris at the helm, I feel like we have the perfect opportunity to build something special.
“Our focus and dedication now is to work together with stakeholders and fans to build sustainable success on and off the pitch for the long term.”
Irwin met Salford’s players and coaches on Friday morning, shortly before the takeover was publicly announced.
“As a Salford lad and lifelong fan of the club, I was delighted to get the phone call which has ultimately led to my appointment as chief executive officer of this great club,” said Irwin.
“I had three great years with my boyhood team from 2021 and it was one of the highlights of my career.
“We have big ambitions for this club and with the support of the new owners, we now have the financial backing to make Salford fulfil its potential.
“We already have significant involvement with the community game in the city, but with the huge catchment area across Salford and the surrounding Greater Manchester region, we recognise the opportunity for growth.”
In the short term, the takeover will allow Salford to be taken out of special measures imposed by the RFL.
The Red Devils’ financial concerns saw them receive an advance of £500,000 on their central distribution, but in return the club were ordered to drastically reduce their salary cap spend to £1.2 million.
They faced the prospect of selling many of their star players to meet this demand, but the measure can be lifted if the governing body approves the new ownership.
It means head coach Paul Rowley will have his full squad to select from when Salford begin their Super League campaign away at St Helens this Saturday.
That was not the case for their Challenge Cup third-round tie at League One side Midlands on Sunday, when their chosen team came in under the revised cap.
Before confirmation of the takeover, Rowley reflected on a difficult pre-season for both himself and his players.
He said: “It’s the tarantula theory. The first time you put it in your hand it frightens you to death but after the first time, you let it bite and become a bit numb to it all.
“I just think that if anyone wonders how Salford bat above their weight each year, it tells you a lot about the culture of the group and the players.
“It’s a reflection of the players we have got. They have stuck together under immense pressure from outside noise and they are still here.
“They walked out at Saints together (for a pre-season victory) and it was a proud moment for me as a coach but it has been tough, I can’t lie.
“I am privy to more information than the lads and I will only ever tell them things when I’ve got the facts and not fiction. It’s been tough.
“I like to protect the players but this has been a little bit challenging.”
In the longer term, the new ownership want to put Salford on a more solid financial footing.
Their most recent accounts, for the year to November 2023, showed a loss of more than £3.9m.
As well as receiving loans and grants from Salford City Council, and raising funds from player sales, the club launched a share scheme two years ago which raised more than £360,000, mostly from supporters, and put the club into the hands of a community benefit society.
Key to improving their position will be the acquisition of their Salford Community Stadium home by the local council, which was completed in December.
The Red Devils have long argued that their lease at the ground is “unfavourable”, denying them revenue streams such as food and beverage sales.
The club are expected to negotiate a new lease with the council, and also hope to benefit from new development on the stadium land including a planned advertising screen overlooking the nearby motorway.
Mayor Paul Dennett said: “I’m very happy to welcome Dario Berta to Salford and look forward to working closely together to see an exciting future for Salford Red Devils, building on the successes of the last five years.”
