Joined: Apr 09 2010 Posts: 14303 Location: The Moon
Uncle Rico wrote:I think the point that was being made is that the RFL has a duty of care for the whole game NOT an individual Club. They appear to have taken their eye off the ball and have let this situation fester over the winter and we are three weeks away from the start of the season.
What's the point of this grading system when it seems that Salfords reliance on future income that hadn't been secured and subsequently delayed wasn't red flagged?
The support given by the RFL was the only option due to the above and timing of events. It would appear that support was conditional and I suppose we'll find out more today
Whatever happens today the whole thing is taking to long and the nearer we get to the start the worse it as become. Salford hanging out for the mythical investment and the RFL and all other clubs seemingly twiddling thumbs this should have been sorted months ago has you have said.
Joined: Jun 25 2006 Posts: 14236 Location: Forum21
just_browny wrote:What could they have done to help Salford's financial viability? I think there have been governance failings here, but they've all been about letting Salford off the hook for some pretty weak excuses and promises that a takeover deal / funding were just around the corner. It's not the RFL's job to run Salford for them and they don't have the money to do that even if they wanted to.
It's exactly a failure of governance - and a big one. The RFL have allowed a team, with known long standing financial troubles, to enter SL 2025 that has insufficient funds to continue trading requiring an immediate bail out of £0.5M. The perilous situation was known to the Salford board in November 2024 when another grant of taxpayers money was not given to Salford. The financial woes of Salford date back decades. Here in 2014 we see another bail out from the tax payer. https://www.manchestereveningnews.co.uk ... er-6917045
There is no excuse for the RFL not to keep Salford under a close watch.
Even now, with the latest crisis known, indecisiveness continues in the hope that a due diligence and completion of a last minute take over deal can be performed in the 3 weeks before the season kicks off. The sale of players should have started last week, and if Salford lose every game of 2025 due to a weak squad - so be it.
As UR says, this is affecting all the other clubs and the image of the game.
It's clear that Salford does not have the financial means to be a SL club.
just_browny wrote:What could they have done to help Salford's financial viability? I think there have been governance failings here, but they've all been about letting Salford off the hook for some pretty weak excuses and promises that a takeover deal / funding were just around the corner. It's not the RFL's job to run Salford for them and they don't have the money to do that even if they wanted to.
It's exactly a failure of governance - and a big one. The RFL have allowed a team, with known long standing financial troubles, to enter SL 2025 that has insufficient funds to continue trading requiring an immediate bail out of £0.5M. The perilous situation was known to the Salford board in November 2024 when another grant of taxpayers money was not given to Salford. The financial woes of Salford date back decades. Here in 2014 we see another bail out from the tax payer. https://www.manchestereveningnews.co.uk ... er-6917045
There is no excuse for the RFL not to keep Salford under a close watch.
Even now, with the latest crisis known, indecisiveness continues in the hope that a due diligence and completion of a last minute take over deal can be performed in the 3 weeks before the season kicks off. The sale of players should have started last week, and if Salford lose every game of 2025 due to a weak squad - so be it.
As UR says, this is affecting all the other clubs and the image of the game.
It's clear that Salford does not have the financial means to be a SL club.
OK so I think I'm agreeing with everyone then. I thought the post I was replying to suggested the RFL should have been propping Salford up more than they have. I agree it has gone on far too long and either:
(1) the IMG process should have picked up on the issues, or (2) once Salford asked for cash in advance, what they put forward to the IMG process should have been binned off and someone else offered the place in SL.
Joined: Jun 25 2006 Posts: 14236 Location: Forum21
just_browny wrote:OK so I think I'm agreeing with everyone then. I thought the post I was replying to suggested the RFL should have been propping Salford up more than they have. I agree it has gone on far too long and either:
(1) the IMG process should have picked up on the issues, or (2) once Salford asked for cash in advance, what they put forward to the IMG process should have been binned off and someone else offered the place in SL.
1) Yes, definitely. Instead they got a B rating 13.97, rank #12. 2) Agree. But worst still it seems the bailout was provided (with RFL Commercial having control of it) but no timeline for execution of the sustainability cap*. Hence Salford can continue to dally in the hope of this takeover, leaving the whole thing in limbo. Salford have been tricksy since the get go.
* https://www.salfordreddevils.com/club-s ... e-rumours/ The terms of receiving the advancement were that the Club be placed under ‘special measures’ requiring a reduction in overheads of £800,000. We were not given a clear timeline for compliance on required expenditure reductions, therefore the Club took the decision to hold our position for the short-term while investor negotiations are ongoing. During this time the Club has received offers for a number of players, none of whom have been available for sale until today.
just_browny wrote:OK so I think I'm agreeing with everyone then. I thought the post I was replying to suggested the RFL should have been propping Salford up more than they have. I agree it has gone on far too long and either:
(1) the IMG process should have picked up on the issues, or (2) once Salford asked for cash in advance, what they put forward to the IMG process should have been binned off and someone else offered the place in SL.
1) Yes, definitely. Instead they got a B rating 13.97, rank #12. 2) Agree. But worst still it seems the bailout was provided (with RFL Commercial having control of it) but no timeline for execution of the sustainability cap*. Hence Salford can continue to dally in the hope of this takeover, leaving the whole thing in limbo. Salford have been tricksy since the get go.
* https://www.salfordreddevils.com/club-s ... e-rumours/ The terms of receiving the advancement were that the Club be placed under ‘special measures’ requiring a reduction in overheads of £800,000. We were not given a clear timeline for compliance on required expenditure reductions, therefore the Club took the decision to hold our position for the short-term while investor negotiations are ongoing. During this time the Club has received offers for a number of players, none of whom have been available for sale until today.
just_browny wrote:OK so I think I'm agreeing with everyone then. I thought the post I was replying to suggested the RFL should have been propping Salford up more than they have. I agree it has gone on far too long and either:
(1) the IMG process should have picked up on the issues, or (2) once Salford asked for cash in advance, what they put forward to the IMG process should have been binned off and someone else offered the place in SL.
I wasn't suggesting the RFL should support or bail Salford out , but i find it strange that London were allowed to come up for one season only ,an expansionist club, then we suddenly hear again about the recurring financial woes of Salford who have been flogging a dead horse ever since the new stadium was built. I don't think the move has done them any favours at all.
Hopefully the takeover bid that has been placed gets accepted, and we can crack on with a normal season. Salford are always entertaining and deserve a good backer, and better support as well
Pretty much exactly what I expected to happen. Salford say "the takeover is going to happen soon, honest" again, and the can gets kicked down the road again.
Pretty much exactly what I expected to happen. Salford say "the takeover is going to happen soon, honest" again, and the can gets kicked down the road again.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot post attachments in this forum
