Salford Red Devils release statement confirming financial position after RFL decision

Salford Red Devils have released a statement providing an update on their recently reported financial troubles with the club being granted their requested advance.

Initial reports from Rugby League Live claimed that the club had requested for an advance on their central funding to alleviate a cash-flow problem that was a result of their deal with Salford Council over the stadium stalling.

Salford Red Devils would then respond and confirmed that a meeting would be held on Monday (today) to discuss and resolve the issue. The same outlet then confirmed earlier today that the meeting had been cancelled with Salford now providing their own update.

A statement published on the club website led with quotes from Rugby League Commercial, granting an advance to the club of an unconfirmed figure.

Salford’s statement read: “RL Commercial today confirmed, “further to Salford Red Devils’ formal request, they have today received confirmation from Rugby League Commercial of an offer of advance against the club’s existing distribution entitlements.

“This has been agreed on the condition of central involvement in and scrutiny of a more sustainable long-term trading position for Salford Red Devils”.”

The club would then continue their statement with their own words, explaining: “We are working on driving the Club forwards to be a commercially viable entity, achieving IMG Grade A status and sitting at the heart of the community as a Club that the City of Salford can be proud of.

“Central to this is completion of the stadium ownership. We have been and continue to actively look for investment partners to support the long-term ambitions of the Club.”

What the Salford Red Devils’ CEO said

Paul King, CEO, said, “Thanks to RL Commercial for working with us on this matter. This affords time for the Club to consider all investment options and to continue to collaborate with the council and our friends at Sale Sharks to support the purchase of the stadium.

“We are hopeful that is imminent, at which point we look forward to progressing the build of our Advertising Screen, to provide the Club with an additional revenue source.”

There was also an update from Chief Operating Officer Claire Butters who ‘has been working with the off-field team in developing a 5-yea commercial strategy to ensure long-term success.

Butters said: “The Front of Shirt partnership is one we are really excited for, and one we look forward to growing.

“We know we have work to do commercially. This is a big Club with a rich heritage, our job is to re-establish Salford Red Devils as the Club of Salford and build something special here that people love and want to be part of.

“The Salford spirit knows no limits and that’s the mindset we’re adopting.”