Page 1 of 1

Salford takeover completed

Posted: 08 Jan 2018, 20:52
by Danny Boy
A NEW era has begun at Salford Red Devils after an experienced and passionate consortium of supporters completed a takeover of the Betfred Super League club.

A new not-for-profit holding company, Salford RD Holdings has taken over the ownership and control of the club from former owner Marwan Koukash.

The Rugby Football League (RFL) has approved the deal which sees ownership pass to the ambitious consortium, which has been established to represent fans and the Salford community.

Re: Salford takeover completed

Posted: 08 Jan 2018, 20:56
by andymc133
Good job they are a not for profit holding company with the lack of home fan support that Salford have had last season

Re: Salford takeover completed

Posted: 08 Jan 2018, 20:57
by St Albans tiger
I thought Salford were carrying huge losses and liabilities - no consortium of fans could afford to pay that off so i guess Marwan has written off his loans and covered the debts to allow the transfer of ownership

Re: Salford takeover completed

Posted: 09 Jan 2018, 01:58
by derbystiger
Now its a ‘supporters consortium’ they have nobody to pass the book to about attendances etc... Gonna be interesting

Re: Salford takeover completed

Posted: 09 Jan 2018, 10:48
by mart0042
If be surprised if he wrote off all the debt.. They owe the council millions. He may have written off his money but left the clubs alone, which begs the question how they are to pay it off. It needs to make money to stay still nevermind go forward.

I've got a feeling that their council is going to get screwed, probably like Wakefield Council, when they take out the loan to build the stadium.

Re: Salford takeover completed

Posted: 09 Jan 2018, 12:25
by mdean
There is a lot of legislative easement for community groups and public consortium ownership.
I can't see other than the PR symbolism of "giving the club back to the fans/community" there being a heap of difference.

Re: Salford takeover completed

Posted: 10 Jan 2018, 10:57
by mart0042
Yes, writing off debt seems more palatable when it's owned by the local tax payers. Add the term community facility and they might be given more money to squander.