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SALFORD CITY STADIUM RUNS INTO FINANCIAL TROUBLE
 

Star date: 17th April 2013

A Salford Star Exclusive

SALFORD CITY COUNCIL BALES OUT STADIUM WITH MORE LOANS

Salford City Mayor, Ian Stewart, has approved another secret loan to the City of Salford Stadium to cover `liabilities'. The Stadium, a joint venture between Salford Council and Peel Holdings, has already had a loan in excess of £20million from the Council. According to its latest set of accounts, the Stadium has made losses of over £4million.

Salford Council might have tried to bury the bad news with Mrs Thatcher but click here for full details…


Salford City Council has, today, authorised another loan to the City of Salford Stadium which is, according to a Council decision document, "to enable it to fully discharge its liabilities this financial year".

Signed off by Salford City Mayor, Ian Stewart, the loan is shrouded in secrecy and no details have been made public. The decision was "dealt with under the emergency procedure", and "is urgent and is not subject to call-in".

The reasons that the loan is being kept secret, the Council document states, are "pursuant to Schedule 12A, paragraph 3 of the Local Government Act 1972 – information relating to the financial or business affairs of any particular person (including the authority holding that information), Information relating to the financial or business affairs of any particular person (including the authority holding that information) and the public interest in maintaining the exemption outweighs the public interest in disclosing the information". You what?

In English, this means that the Council says it's in the public interest not to tell the public what it's doing with the public's money…

Salford Council has already given the Stadium – a joint venture between Peel Holdings and the Council – a loan in excess of £20million, despite its `joint venture' partner, Peel Holdings, supposedly being one of the richest conglomerates in the UK.

According to the latest set of accounts for the City of Salford Community Stadium Ltd, losses of £4.335million were made in the year to 2012. Salford Star also understands that a substantial amount is still owed to the Stadium company by Salford City Reds.

Meanwhile, the last sets of accounts show that Salford Council was still owed £20.204million for its original loans to the Stadium.

Salford council tax payers may well want to question the Council's ethics, of handing out more loans to the Stadium, while making cuts that bring "great suffering, real hardship for the people of Salford and their families." (copyright Salford Mayor, Ian Stewart, 27.2.13 see here)…

Jay wrote
at 5:47:59 AM on Thursday, September 12, 2013
The underdeveloped and retarded creature who claims we are "COMMIE SCUM", should have tried harder to get past his 3rd grade education standard. What a condemnation of the education system, to still have uninformed half-wits like this hanging around.
 
Bernard Brough wrote
at 11:09:46 AM on Tuesday, April 23, 2013
Reds Fan & Righwiger&whatever, you might be stupid enough to sit with your hands over your ears & eyes as the Council gives away public money, there are those of us however who want to know what is going on & the Salford Star is the only place we can find the truth. As for the article being poorly writen maybe you should learn to read.
 
Michael Felse wrote
at 11:09:24 AM on Tuesday, April 23, 2013
If we let our Labour Council and Land Owners around this stadium get on with building homes, shops and supermarkets with transport links the extra income from the extra council tax would more than justify the loans to keep the dream of a sports community alive and kicking.
 
Salford Red wrote
at 7:20:35 AM on Tuesday, April 23, 2013
Another poorly written article attacking the city's only professional sporting club from a cartoon-esque publication. This is the sort of thing that happens all the time for various different businesses, but as it's Salford and the stadium the Star decides to whip up its readers into a frenzy. The "COMMIE SCUM" comment just sums it all up. Let it go, people. In fact, if some of you actually supported the team that represents your city, maybe there wouldn't be so many problems?
 
not a brain dead labour voter wrote
at 3:17:25 PM on Sunday, April 21, 2013
did anyone see in the salford labour party rag also known as the advertiser, the picture of people dancing at half time during a match, did you notice the crowd in the background, there was nearly more security people than fans. 20+ million on this sh*t, someone's having a laugh
 
not a brain dead labour voter wrote
at 3:16:16 PM on Sunday, April 21, 2013
To Salford star, you need to advertise that the star is still out there, you need to leaflet Salford and to tell people that the Salford star is on line, and that the star is the only outlet that lets people know what really is going on, inside this council. lets get people on line, to the star. lets get people questioning those who claim to serve in our name.time to make the people in swinetown look over their shoulders before the next election.
 
not a brain dead labour voter wrote
at 8:17:35 AM on Sunday, April 21, 2013
The John Wilkinson fiasco all over again, and Salford council still to brain dead to learn from it's past mistakes.
 
Robert Ward wrote
at 1:27:56 AM on Sunday, April 21, 2013
ABSOLUTELY DISGUSTING,AND SADLY THIS DOES NOT SURPRISE ME AT ALL.I THINK THAT IT IS TIME THE VOTERS WAKE UP AND THROW THIS COUNCIL OUT OF OFFICE,AND I THINK IT IS TIME THAT THE COUNCIL TAX PAYERS REFUSE EN MASSE TO PAY IT IF THIS IS WHAT OUR MONEY IS BEING WASTED ON.
 
Rightwingerandproud wrote
at 2:08:49 AM on Saturday, April 20, 2013
White: That really is a perceptive and well thought out comment. You appear to have the enviable ability to concisely sum up the argument.
 
White wrote
at 3:44:05 AM on Friday, April 19, 2013
Rightwingerandproud: That really is a perceptive and well thought out comment. You appear to have the enviable ability to concisely sum up the argument.
 
Rightwingerandproud wrote
at 1:39:19 AM on Friday, April 19, 2013
COMMIE SCUM
 
Mary Ferrer wrote
at 4:18:46 PM on Thursday, April 18, 2013
Steve P. Looking on this page today, I think there will be more unemployment within this city. If all these services are going to be cut, where are the people doing the jobs now, going to get employment in the future. And as for loans, don't you think the council have made a big boob with the loan to the Reds, when are we getting the money back in 20 years. Thats just one of the loans. Have a look at the accounts for this city. I would love to know who all their long term debtors are and what the amout of debt and by who.
 
Bernard Brough wrote
at 4:18:14 PM on Thursday, April 18, 2013
It's time this fiasco was brought to an end. The Council should demand immediate repayment of any putstanding loans to Salford Reds. If the club go than tough it is a business & should be run as such. Steve what in the name of sanity are you on about?
 
Russell Johnson wrote
at 9:48:59 AM on Thursday, April 18, 2013
It's an interesting social result of monetarism that the balance of choices and preferences has all of us pointing the finger at and accusing each other rather than asking why and what of politicians.How they must love just how quick we are to blame everyone but them for where we find ourselves now!
 
Steve P wrote
at 9:48:40 AM on Thursday, April 18, 2013
Mary Ferrer, look at problems closer to home like 'unepmloyment' in the City and how the council is giving loans out to people who cant be arsed getting a job.
 
Michael Felse wrote
at 7:29:45 AM on Thursday, April 18, 2013
Mary, we cannot blame our Mayor for things before he came onto office. Most of these things were signed, sealed and awaiting delivery before Mayor Stewart arrived into the Civic Centre. And with the Con-Dem constraints the suggestion that Salford can do more with less is an oxymoron expectation.
 
Salford Star wrote
at 3:57:37 AM on Thursday, April 18, 2013
See Salford Reds Fan comment below...the article was deliberately written to point out that more loans are going to the Stadium with no transparency at all. Surely you are angry about that? As far as the accounts are concerned the article points out that these are the latest set of accounts - you can only go on what's in the public domain, given that the Council shares nothing with its own citizens. If the Stadium picture was rosy the company wouldn't need more secret loans...
 
Salford Reds Fan wrote
at 3:50:55 AM on Thursday, April 18, 2013
These accounts referred to conveniently fail to mention that they were submitted on the 31st March 2012. The article is deliberately written to make people believe it’s for all 2012. The stadium only opened a month before these accounts were filed so it doesn’t really give an accurate reflection of the stadium’s recent trading history does it?
 
Mary Ferrer wrote
at 12:26:55 AM on Thursday, April 18, 2013
I said back in 2009 this was a very bad idea, but no one took any notice. So we entered into a loan of well over £20M to build a staduim, with little or no hope of ever seeing any returns.So we are now giving more money from a city that is on its knees to the biggest white elephant this city has ever had. There was no public consultation at the very start of this project, so we can't expect any now. Where are Peel,I bet they are having a right laugh at us,all the way to the bank. And where is Councillor Garrido and her group, why are they not asking questions, or is it a case if its not in Worsly we don't want to know. Salford Council and our Mayor should hang their heads in shame. I have friends who have had much needed services cut for both Children and older members of the community,because they have been told there is no money, yet that lot can and will keep finding it for things like this. Mr Mayor I sat and listened while you gave us a history lesson on how you had suffered as a child in Scotland from poverty and you would do your best to see the cuts to services for the people of Salford would be as fair as you could make them. Well what pot is this latest handout to Mr Lancasters white elephant coming from?????
 
Prisoner Irlam wrote
at 12:25:44 AM on Thursday, April 18, 2013
Time Salford Council innercabinet got a "Heart" transplant ASAP, sounds like council See Not answerable to there electorate, but to Orange Peel. All the talk of fighting Orange from council is a front , they will develop $$$, Mr correct are u involved in anyway?
 
Brianfkirkham wrote
at 1:20:55 PM on Wednesday, April 17, 2013
Sorry for repeating myself - but I asked this question way back at the start of this fiasco (with Salford Reds) and I Still haven't had any credible answer. What the heck are the people of Salford getting out of this? We seem to pay Peel Tonnes of money through Backroom deals, for projects which do much kudos for those at the top end of Salford Society but very little for anyone else. Our Beloved Rugby Club (whether fans like it or not) have taken us to the cleaners in the past few years and meanwhile what do the citizens of Salford get? Not Very Much. What happened to the Masterplan from the Development Department? No Response. Of course, you can't lay a concrete slab in Salford now without a six month consultation (The "Path" between the two schools in Ordsall is IMHO - Dire and in places, Dangerous), Schools are Still under threat as new housing schemes emerge. And as for the finances - Salford - I'd like you to be my Bank Manager (sic) - as the people you are paying out to as of late (allowing for Dr Koucash's money) haven't exactly been paying you back. As for this latest loan - what's it been used for? and Why couldn't Peel stump up the money? I think the council tax payers have a right to know.
 
Irlam resident wrote
at 1:19:40 PM on Wednesday, April 17, 2013
Ha ha ha, Michael you keep em coming that one about keeping sport alive is a good one. In case you had not noticed the Salford stadium has been on life support in intensive care since it was planned, if the clowns at the town hall had let it go down the toilet where it belonged then we would all be better off, the tax payer, salford reds, and the people of Irlam and Cadishead who can't get near Eccles on a match day due to the traffic. Oh and can i just point out that the word "Sportive" means a cycling linked activity and not rugby.
 
steve U.S.U.C. wrote
at 11:26:23 AM on Wednesday, April 17, 2013
I thought that the Council had to make saving. Or that's what he keeps telling everybody. Not to give it away with no chance of getting it back. The sooner he goes the BETTER Salford people will be. Lets call time on Stewart, TIME FOR STEWART TO GO.
 
Michael Felse wrote
at 11:26:08 AM on Wednesday, April 17, 2013
If this secret loan is true then it shows our elected Mayor is trying to keep sport alive in Salford. It is understandable if little options are available but to back the club in the longer term interest of Salford Sportive Opportunities. However, I urge Mayor Stewart to give a full public account on the loan. Trust the people and gain their respect is always a safer bet.
 
tom nolan wrote
at 10:19:07 AM on Wednesday, April 17, 2013
wat did I say a few months ago, sorry but time to let go.
 
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