https://www.loverugbyleague.com/post/ma ... -half-back Leigh are now out of the running for Marc Sneyd, having tried to poach him before the warm weather training in Lanzarote. Salford have dragged their feet for 2 months now, without actually selling any players. The plan seems to be recoup some money from actually sales, at a time when 99.9% of players are sold/leave without a buyers fee. Derek has also done an interview in which he talks about the similar position Leigh found themselves in back in 2018. It would appear that Warrington provided a cash injection buying two players and the rest of the squad were moved on to reduce the salary cap. Reading between the lines, cash strapped Salford want income and a reduction in salary cap at the same time, all from a weak sellers position. Leigh are going to start the season with Gaz O'Brien, with Ben McNamara as backup. Derek is keeping a chunk of change if needed for mid-season transactions. Sneyd would have been a great addition to the Leopards, but he does not fit the current model for youth, speed and x-factor, although the last one he has in spades. Salford appear to be wading further into the mire. The Forty20 podcast suggested that Salford have an historic debt of around £5M and most of that is with Salford City Council, who are also the landlords of the Salford Community Stadium. No amount of selling warm beer and sausage rolls is going to eat into a debt that huge. The £500K advance will get Salford to the starting line in 3 weeks time but sales of players would have allowed that money to stretch further. They are delaying and holding out for a buy out, but that will not shift the £5M in outstanding debts. Today's meeting will no doubt allow for dispensation on the overseas cap, but it is doubtful that an increase in salary cap will be approved. Increasing the salary cap would skew the competition towards the teams with rich benefactors and sends a bad message at a time when all clubs are loss making.

https://www.loverugbyleague.com/post/ma ... -half-back Leigh are now out of the running for Marc Sneyd, having tried to poach him before the warm weather training in Lanzarote. Salford have dragged their feet for 2 months now, without actually selling any players. The plan seems to be recoup some money from actually sales, at a time when 99.9% of players are sold/leave without a buyers fee. Derek has also done an interview in which he talks about the similar position Leigh found themselves in back in 2018. It would appear that Warrington provided a cash injection buying two players and the rest of the squad were moved on to reduce the salary cap. Reading between the lines, cash strapped Salford want income and a reduction in salary cap at the same time, all from a weak sellers position. Leigh are going to start the season with Gaz O'Brien, with Ben McNamara as backup. Derek is keeping a chunk of change if needed for mid-season transactions. Sneyd would have been a great addition to the Leopards, but he does not fit the current model for youth, speed and x-factor, although the last one he has in spades. Salford appear to be wading further into the mire. The Forty20 podcast suggested that Salford have an historic debt of around £5M and most of that is with Salford City Council, who are also the landlords of the Salford Community Stadium. No amount of selling warm beer and sausage rolls is going to eat into a debt that huge. The £500K advance will get Salford to the starting line in 3 weeks time but sales of players would have allowed that money to stretch further. They are delaying and holding out for a buy out, but that will not shift the £5M in outstanding debts. Today's meeting will no doubt allow for dispensation on the overseas cap, but it is doubtful that an increase in salary cap will be approved. Increasing the salary cap would skew the competition towards the teams with rich benefactors and sends a bad message at a time when all clubs are loss making.

https://www.examinerlive.co.uk/sport/ru ... s-30881591 RFL Commercial demand £800K cuts immediately. Salford wave two fingers up at them for 2 months and then spend some more money. No announcement of a takeover yet, and RFL Commercial will not ratify any new signings until they hit £1.2M salary cap. Good luck getting this signing ratified.

https://www.examinerlive.co.uk/sport/ru ... s-30881591 RFL Commercial demand £800K cuts immediately. Salford wave two fingers up at them for 2 months and then spend some more money. No announcement of a takeover yet, and RFL Commercial will not ratify any new signings until they hit £1.2M salary cap. Good luck getting this signing ratified.

How did Salford Red Devils get in this mess? In April 2023 Salford Red Devils launched a community share scheme entitled “Reds Rise Together.” The aim was to raise between £250K - £2M to secure the long-term future of the club. Along with raising of capital, there were a number of commercial targets, like growing average attendances by 2000, securing income streams on matchdays and securing a long-term lease with money through refreshment sales. SRD Holdings LTD Profit & Loss Actual 2021 Actual 2022 Estimated 2023 Estimated 2024 Estimated 2025 Total Income 2612209 3154036 3469440 3900613 4321405 Total Expenditure 2961643 3734884 3873761 4395060 4511381 Profit/Loss Before Tax (349434) (580848) (404321) (494447) (189976) The aim was to reduce the £580K loss in 2022 to a more manageable £189K loss in 2025 and break even some time in the near future. According to ChatGPT SRD were able to raise an incredible £1.5M, more conventional search engines put the figure at over £250K on the 30th May 2023. The rest of the prospectus appears to have been less successful. Objective 3: To increase average match attendance by 2000 within 3 years. This in reality requires Salford to achieve average attendances of 6000 in 2025. The average figure in a successful season like 2024 was only 4646 way below the projected figure. This greatly impacts on the estimated income of nearly £4M which also incorporates the projected income stream for refreshments, which incidentally has still not been negotiated with Salford City Council, even though the season starts in just over two weeks time. Salford City Council have periodically propped up the club with loans and grants to cover shortfalls in the SRD coffers. ChatGPT states that, “As of the latest available information, Salford Red Devils owe £1.6 million to Salford City Council. This debt primarily relates to the club's lease at the AJ Bell Stadium, and there have been ongoing discussions between the council and the club about restructuring this debt.” Salford City Council have recently bought out Peel Holding for £7M at a time when most councils in England and Wales are strapped for cash. Salford City Council is believed to be £1.5 Billion in debt. Salford Red Devils have far exceeded the goodwill of Salford City Council, and the Rugby League club have used the council like a personal piggy bank. They have assumed that possible income streams are available to be spend before they receive the money and in many cases the money never arrives. They have massively overprojected their ability to attract additional fans and to maximise commercial opportunities. How envious the SRD community board must be when they look West down the East Lancashire Road and see the Leigh Leopards achieving everything that they set out to do in the “Reds Rise Together” prospectus. https://www.crowdfunder.co.uk/uploads/p ... digital_(1).pdf https://www.crowdfunder.co.uk/uploads/p ... s_plan.pdf The Salford debacle is only a few weeks away from being rectified one way or another. 30th January marks this months pay day (do they have the funds to pay?) 9th February marks Salford's first competitive game of the season and the need to register players with the RFL. Without a new paymaster will the £1.2M salary cap be enforced. https://www.loverugbyleague.com/post/wh ... strictions Using the Wrexham takeover of a community club as an example - it took 6 months from NDA to announcement, and a further 3 months to ratify. Salford need to wrap it all up in less than 6 weeks or players are walking out on voided contracts.

How did Salford Red Devils get in this mess? In April 2023 Salford Red Devils launched a community share scheme entitled “Reds Rise Together.” The aim was to raise between £250K - £2M to secure the long-term future of the club. Along with raising of capital, there were a number of commercial targets, like growing average attendances by 2000, securing income streams on matchdays and securing a long-term lease with money through refreshment sales. SRD Holdings LTD Profit & Loss Actual 2021 Actual 2022 Estimated 2023 Estimated 2024 Estimated 2025 Total Income 2612209 3154036 3469440 3900613 4321405 Total Expenditure 2961643 3734884 3873761 4395060 4511381 Profit/Loss Before Tax (349434) (580848) (404321) (494447) (189976) The aim was to reduce the £580K loss in 2022 to a more manageable £189K loss in 2025 and break even some time in the near future. According to ChatGPT SRD were able to raise an incredible £1.5M, more conventional search engines put the figure at over £250K on the 30th May 2023. The rest of the prospectus appears to have been less successful. Objective 3: To increase average match attendance by 2000 within 3 years. This in reality requires Salford to achieve average attendances of 6000 in 2025. The average figure in a successful season like 2024 was only 4646 way below the projected figure. This greatly impacts on the estimated income of nearly £4M which also incorporates the projected income stream for refreshments, which incidentally has still not been negotiated with Salford City Council, even though the season starts in just over two weeks time. Salford City Council have periodically propped up the club with loans and grants to cover shortfalls in the SRD coffers. ChatGPT states that, “As of the latest available information, Salford Red Devils owe £1.6 million to Salford City Council. This debt primarily relates to the club's lease at the AJ Bell Stadium, and there have been ongoing discussions between the council and the club about restructuring this debt.” Salford City Council have recently bought out Peel Holding for £7M at a time when most councils in England and Wales are strapped for cash. Salford City Council is believed to be £1.5 Billion in debt. Salford Red Devils have far exceeded the goodwill of Salford City Council, and the Rugby League club have used the council like a personal piggy bank. They have assumed that possible income streams are available to be spend before they receive the money and in many cases the money never arrives. They have massively overprojected their ability to attract additional fans and to maximise commercial opportunities. How envious the SRD community board must be when they look West down the East Lancashire Road and see the Leigh Leopards achieving everything that they set out to do in the “Reds Rise Together” prospectus. https://www.crowdfunder.co.uk/uploads/p ... digital_(1).pdf https://www.crowdfunder.co.uk/uploads/p ... s_plan.pdf The Salford debacle is only a few weeks away from being rectified one way or another. 30th January marks this months pay day (do they have the funds to pay?) 9th February marks Salford's first competitive game of the season and the need to register players with the RFL. Without a new paymaster will the £1.2M salary cap be enforced. https://www.loverugbyleague.com/post/wh ... strictions Using the Wrexham takeover of a community club as an example - it took 6 months from NDA to announcement, and a further 3 months to ratify. Salford need to wrap it all up in less than 6 weeks or players are walking out on voided contracts.

https://www.bbc.co.uk/sport/rugby-leagu ... gm74wnn2mo "It is important to add that the advancement monies were held by RL Commercial and payments administered directly from them - the club have never been given the funds to manage directly." Looks like Salford players are getting paid this month.

https://www.bbc.co.uk/sport/rugby-leagu ... gm74wnn2mo "It is important to add that the advancement monies were held by RL Commercial and payments administered directly from them - the club have never been given the funds to manage directly." Looks like Salford players are getting paid this month.