Salford Red Devils announced last month the launch of ‘Reds Rise Together’, a community share offer scheme that will see the club transition wholly into the first elite rugby league club in the northern hemisphere to become a truly and legally community owned club.
Paul King, Managing Director of Salford Red Devils said;
“This year we’re celebrating 150 years of a club at the heart of its community. Now we’re growing that community, as well as placing it at the heart of the club.”
“The game has changed. IMG are in the business and with that comes a forward-thinking approach to how we move forward.”
“For years, whenever we’ve been close to something, we have had to sell our best players. This year we opted to change that. Now by doing this, it allows to maintain a competitive playing squad and gives us a real chance to win the biggest prizes in the game.”
“We have a fundamental belief that sport belongs to the people – not a sole person; and by doing this we’re creating the opportunity for such likeminded individuals to join us and do something really special.”
‘Reds Rise Together’ is a community share offer which allows an individual to purchase a share in the club’s holding company – now a Community Benefit Society (CBS) – entitling them to a vote and eligibility to stand for election to the CBS board. Along with a host of other benefits, the overriding benefit is a collective one, meaning that together, we can take better control over the future of our club and continue to add meaningful value to our communities.
Tonight is the club’s exclusive Reds Rise Together event which explain the situation and the scheme in full.
The Red Devils made the following statement:
“Want to meet your fellow owners and find out more about our history-making campaign?
“Come down from 7pm tomorrow!
“This is a limited capacity event – confirm your attendance here now to avoid missing out!
“There’s two weeks to go in our community share offer campaign, we are approaching over 700 unique pledges, with £182,000 raised so far.”
This could also shed light on the Tyler Dupree situation.
King has been open about how the Reds Rise Together scheme can stop the club from needing to sell to survive and the club turned down a transfer request from Dupree this week after interest from Hull KR.
Tonight’s big event could shed light on if Salford will have to accept the six figure sum they have reportedly been offered for his services.