HOME   ARCHIVE   GALLERY   SHOP   ABOUT US      
 

 
SALFORD CITY REDS FACE WINDING UP PETITION
 

Star date: 18th October 2012 

SALFORD REDS ON THE VERGE OF EXTINCTION

The Press Association is reporting that Salford Reds rugby club is to face a winding up petition on Monday 29th October. The petition has been brought by `club sponsors' and management consultants, Steuer Gregsson, which was ironically brought in to help save the club.

Full story here…


Despite the millions of pounds pumped into Salford City Reds by Salford Council, and the move to the new `dream' stadium in Barton this year, Salford City Reds is facing administration, with a winding up petition brought by `club sponsors' and management consultants, Steuer Gregsson.

The Cheshire based consultants was ironically brought in by the club to help raise revenue and avoid such a catastrophe. Salford Council also drafted in its Economic Futures officer, Rob Pickering "to help safeguard" its investment, including a loan of £1million and the hope of getting a return on its £22million loan for the Salford City Stadium, for which Salford Reds pays rent, although it was recently halved when Sale Sharks shared the ground.

The Press Association is quoting Salford Reds Chairman, John Wilkinson, as saying "It is a very small amount of money involved and we've brought in experts to deal with it for us. That's all we can say at this moment in time."

For full details of the state of Salford Reds finance dealings see previous Salford Star article - Salford Reds In Hock - click here

Update: On 19th October the club released the following statement...

"It has been widely publicised since the start of this year that the Salford City Reds Chairman and Board of Directors have actively been in pursuit of, and in negotiation for new investment into the club to take it to the next level.
 
These discussions continue and we ask at this time in particular that colleagues, supporters and sponsors of Salford City Reds respect the sensitivity of negotiations with potential investors and refrain from engaging in potentially damaging speculation.
 
Despite recent disappointing and negative media stories over what is in fact a disputed petition against the club, the Chairman and Board of Directors remain very confident that the current situation will be brought to a positive conclusion for all with an interest in seeing the Salford club survive and thrive.
 
The Board of Directors believes without question in the strength of our club and its importance both to the city of Salford and to Super League, and is confident that our present discussions will reach a favourable outcome - one that will secure the future of our great club for many generations to come."

Rob wrote
at 07:40:54 on 29 October 2012
I think that something stinks here,and in a way I hope (not because of the fans,they deserve better and the truth)that Salford City Reds are wound up because it seems to me that things are far far worse than the board are letting on.And I hope that the full amounts are disclosed,and to whom the monies are owed to,no matter how shocking this is.As for the Salford fans,well I suggest that you all start talking to one another and be prepared not only for bad news but to step in and run the club,albeit a newco,and be prepared to have to start at the bottom and work your way back up,like Glasgow Rangers have had to do.
 
Hmmm.... wrote
at 11:35:04 on 25 October 2012
Sounds like a case of a rugby club being too big for its boots, getting into bed with members of executive envious of other peoples positions. If council had seen the full financial situation of the club - regardless of political affiliation - someone with a little accountancy knowledge would have told cabinet to (using a rugby parlance) kick the idea into the long grass. As the wind up order is now underway, i take it deals with directors of Salford have been suspended whilst this is taking place ?
 
Lee Mullen wrote
at 11:14:05 on 23 October 2012
I wonder if Brian Kennedy or Sale Sharks are connected with Steuer Gregsson somehow, in an ill attempt to buy the Reds at a very cheap price?? Something fishy is going on and the Sharks are prowling....
 
wrote
at 06:15:25 on 20 October 2012
In answer to "Another cock up" The amount the council have pledged to the Orchestra is £20M over so many years then there will be ongoing payouts for god knows how long. The last time I asked which was back in 2010 the amount of loans that the council have owned up to were £1.1/4 MILLION. Then there is the £250.000 they gave them for the lease on the car park that the council owned. I understand this was a brain storm of Councillor Lancaster as a way of giving them more money to keep them afloat.I also understand the city Solicitor was not very happy with this, but as we all know this council does what it wants and sod the rest of us. Wonder when WE will have paid back the £22M+ for the stadium. And on a final note wonder what will now happen to Buile Hill Mansion, the grade 2 listed building this council have been keeping on hold for Mr Wikinson and his mate Mr Watson.Bet they wouldn't do it for me or you,but who are we just the people who pay their wages and get sh-t on day in and day out by this council. Services CUT, wages CUT, job CUT.It's them MUSHROOMS again "keep them in the dark and shovel sh-t on us" The annoying thing is WE ALLOW IT.
 
Another cock up? wrote
at 11:52:41 on 19 October 2012
So how much of our money has the council actually "loaned" the club and for the stadium? Is this another case of "It is good for the city and the people of Salford" and "It is a good investment" Look at al the shortfalls and cuts and then see how much they have wasted on the Orchestra and stuff like this. £20,000,000 for the Orhestra. You could have got the Smiths and all the Manc bands for that.
 
A.P. wrote
at 09:29:38 on 19 October 2012
Well said , Mary . There must be an investigation into the Clown Hall Cretins ineptitude in this disgraceful saga . They will be made to answer for their gross incompetence , ineptitude , and mismanagement .
 
Council worker wrote
at 07:23:07 on 19 October 2012
Isnt ironic that 'Biffo' councillor Lancaster our Deputy mayor is a massive fan of Salford Reds and that his mate Dan Tinker ex council director has been brought in at a cost or £400 a day (Bit of a blur who is paying but I suspect its the £17k grant from Scary Spicer (£200K per year) secret budget.) cant appear to save Salford Reds. Our Mayor (who is he again?) should demand an investigation by the district auditor into this disgraceful fiasco. As an insider I know it is a disgraceful waste of public money.
 
Mary Ferrer wrote
at 07:22:16 on 19 October 2012
I hope for the sake of the club and for the residents of Salford the club does not go under. If it does the the city council will have a lot of questions to answer. 1) Why give loans of well over £1m to a club that had major financial problems. 2) Did the city legal department feel it was a wise move to enter into the loans. 3) Did the city treasure have full access to the clubs accounts. 4) Why did the city council enter into a loan of over £22M to build a stadium. Most of these questions have been asked in the past and like everything else with this Labour council they never gave the answers,and did what they wanted and that is one of the reasons this city is in the bloody mess it is in. But like everything else, they will get away with another cock up.
 
Tom wrote
at 20:54:16 on 18 October 2012
Just had a look at council spending over £500, from June 2011 to May 2012 £113500.00 was payed to Salford city reds, including a £17K grant from the Chief Executives office. What a wise investment in the future of our once great city that was Babs! How much more has gone to them over the past few years?
 
Salford Star wrote
at 18:28:28 on 18 October 2012
See Iain Peacock's comment below.. Yep, we'll accept that. The story was written in 5 mins flat to inform readers. We thought `order' and `petition' were the same thing - it's not. But it's still one company attempting to wind up another if it doesn't get paid. The headline has been changed.
 
Iain Peacock wrote
at 18:24:08 on 18 October 2012
Note: a winding up order, and a winding up petition are different things.Despite your headline,this is not the former.
 
Not so proud Salfordian wrote
at 18:01:27 on 18 October 2012
Now can all you clever councilors see why the banks would not lend them the money. If they go bump then the half-wits at the clowncil who GAVE them the loans should be made to repay that money to the city. Why should we the people of Salford loose out on the so called investments made by the clowns. If this was a company these clowns at the town hall were running they would be struck off as directors and banned 5 years min.
 
alan marshall wrote
at 16:58:57 on 18 October 2012
More experts...expect another winding up order then if they manage to settle this one.
 
Please enter your comment below:
 
 
 
Salford Star CD
Salford Star contact
Deli Lama
advertisement
 
Contact us
phone: 07957 982960
Facebook       Twitter
 
 
Recent comments
article: SWINTON PROTESTS BRING SALFORD COUNCIL AND BELLWAY HOMES TO NEGOTIATING TABLE
241 houses . That's got to be a bare minimum of 5 years build . Probably longer. All that time to have your life disrupted by nois... [more]
article: SWINTON PROTESTS BRING SALFORD COUNCIL AND BELLWAY HOMES TO NEGOTIATING TABLE
Unfotunateley under the Residential roads and footpath standards any developement of 300 dwellings or less needs only one access r... [more]
article: ARTISTS TAKE UP RESIDENCE IN CONTROVERSIAL URBAN SPLASH SALFORD DEVELOPMENT
'The talk is in hushed tones, and there don't seem to be any proper Salford people here' Ah yes, because 'proper' Salford peopl... [more]
article: ARTISTS TAKE UP RESIDENCE IN CONTROVERSIAL URBAN SPLASH SALFORD DEVELOPMENT
More deranged rantings from Bob the regular! What evidence have you got for your slanderous accusations? The fact about Chimney ... [more]
article: SALFORD TRADES COUNCIL CONDEMNS CITIZENS ADVICE BUREAU FOR £39MILLION UNIVERSAL CREDIT COLLABORATION
CAB staff in Salford have done as much as anyone lto help people fight universal credit injustices including fighting injustices a... [more]
 
 
 
 
 
Days
Hours
Minutes
Seconds
 
 
 

Donate

Help the Salford Star...

all donations welcome

 
 

More articles...

SWINTON PROTESTS BRING SALFORD COUNCIL AND BELLWAY HOMES TO NEGOTIATING TABLE

Star date: 17th October 2018

NEVER MIND THE BREXITS HERE'S SAVING OUR NEIGHBOURHOOD!

As Theresa May was locked in Brexit talks in Brussels, this morning Salford City Council, Bellway Homes and Swinton residents' Saving Our Neighbourhood group were meeting to try and resolve horrendous problems around the Campbell Road natural green space, where the developer is attempting to build 241 houses.

The Council and Bellway have been brought to the table after constant protests by residents..."I think that's the only way we're going to get anywhere" said Barry Woodling of Saving Our Neighbourhood as residents demonstrated yet again outside the Civic Centre.

Full details here...

SALFORD MP RAILS AGAINST GOVERNMENT AS FRACKING BEGINS IN FYLDE

Star date: 16th October 2018

REBECCA LONG-BAILEY SLATES 'GREEN GREAT BRITAIN' TORIES AS WESTWOOD DANCES ON CUADRILLA'S INJUNCTION LINE

Salford and Eccles MP, Rebecca Long-Bailey, slated the Tory Government in Parliament yesterday, pointing out "What a terrible irony it is that the first day of Green Great Britain Week is the day that fracking is due to commence..."

Today, Vivienne Westwood performed a break dance to Abba's Dancing Queen on Cuadrilla's 'draconian injunction line' outside the Preston New Road site in a dig at Theresa May's hopeless jig at the Tory conference and to stand up for the right to protest.

Full details here...

ARTISTS TAKE UP RESIDENCE IN CONTROVERSIAL URBAN SPLASH SALFORD DEVELOPMENT

Star date: 15th October 2018

ARTISTS TO CHALLENGE HOUSING POLICIES WHILE LIVING IN LUXURY HOUSE

'You can't even stop your car to take in the breathtaking sterilization of the place...'

Last week, artists moved into a stunning Urban Splash house in the new Springfield Lane development as part of a year-long project called Tenancy in which they will explore 'what it's like to live in a city negotiating rapid change' and 'who is benefitting'.

The Springfield Lane development, being branded as in 'Manchester', has no affordable housing and avoided hundreds of thousands of pounds in planning fees. Can the artist project, actually sponsored by Tom Bloxham and Urban Splash, make a difference?

Full details here...

HUGE INTERNATIONAL FILIA WOMEN’S CONFERENCE COMES TO ECCLES

Star date: 14th October 2018

SALFORD STREET SUPPORT TO TALK AT LARGEST UK WOMEN'S RIGHTS CONFERENCE

FiLia 2018 Conference
Saturday and Sunday 20th and 21st October
The Lighthouse, Eccles

The massive FiLiA international conference is to take place in Eccles next weekend, with women flying in from all over the world, including from Argentina and Palestine.

There's over two dozen sessions covering all feminist-related subjects, and from Salford, Angela Barratt of Salford and Manchester Street Support will be speaking on women and poverty, while Salford University lecturer, Suryia Nayak, will be giving an Introduction To Consciousness Raising.

Full details here...

COUNTESS WHO MURDERED 650 WOMEN ARRIVES AT EAGLE INN SALFORD

Star date: 14th October 2018

HUNGARIAN GOTHIC DRAMA BASED ON TRUE STORY OF MURDER AND VANITY

Countess
Monday 29th October 7pm and Tuesday 30th October 4pm and 7pm
Eagle Inn £10/£8

A truly gothic production of Countess arrives at the Eagle Inn on 29th and 30th October, based on the true story of Hungarian aristocrat, Elizabeth Bathory, who murdered 650 women for the sake of her vanity. This aims to get inside of her mind with a supernatural twist.

Full details here...

 



written and produced by Salfordians for Salfordians
with attitude and love xxx