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SALFORD COUNCIL BAILS OUT RUGBY STADIUM WITH ANOTHER HUGE LOAN
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Star date: 15th August 2014
CASH STRAPPED COUNCIL STADIUM LOANS NOW TOP £1MILLION
Salford Council has agreed another £275,000 loan to its joint venture AJ Bell Stadium, home of Salford Red Devils and Sale Sharks. This comes on top of a £205,000 loan earlier this year and £600,000 worth of loans last year.
The £1million worth of loans to keep the Stadium afloat are in addition to a £22million loan when it was built with partner Peel Holdings.
Full details here... |
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Salford Council, which is cutting services for some of the most vulnerable people in the city, has handed the AJ Bell Stadium a further loan of £275,000, with joint venture partner Peel Holdings putting in the same amount.
At June's full Council meeting, Deputy Mayor, David Lancaster, talked up the Stadium's prospects, saying that the 17 acres of land around it had a value of £18-£20million and that the Council had interest for 1.3acres of the land... "If the sale comes off we won't be needing any more loans" he said.
Now, less than two months later, a Council report states "The capital receipt generated by the sale of 1.3 acres of land at the Stadium has taken slightly longer than anticipated to be received. This loan will ensure that Salford City Council, as joint owner of the City of Salford Community Stadium with Peel Holdings, delivers on its obligations under the 50:50 Joint Venture Agreement and allows the Stadium to meet its short-term cash flow obligations."
The Stadium received a loan for £205,362 from Salford Council in April this year, plus around £600,000 of loans in previous years (see previous Salford Star article click here), making a total of over £1million for `cash flow obligations'. The Council also handed over an original loan of £22million to build the Stadium, despite it being a joint venture with Peel Holdings, one of the richest companies in the North West.
While loans are being for found for the Stadium, campaigners against transport cuts for severely disabled adults found it necessary to protest outside Mayor Ian Stewart's house this week (see previous Salford Star article click here)
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andy olsen wrote
at 04:51:29 on 20 August 2014 |
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| Another waste of salfords tax payers money that should be used to help the old / disabled and poor. wake up salford. It shows you how salford council have not a care in the world for the people of salford. and everyones forgot to mention that there are more cuts to come next year. where is this money for next years budget going to come from ??? |
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Brianfkirkham wrote
at 10:08:03 on 19 August 2014 |
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| First things first, I feel truly sorry for Salford Reds in this sorry situation. However, this situation has gone on for far too long. Ms Ferrers comment is quite stark - I follow RL, but couldn't see the sense of shipping a brand new stadium away from its roots, and the self named "AJ BELL STADIUM" is merely a device to prise more cash (from council tax payers) and give it directly to Peel. As it stands it wont be long till the Uncle Tom Cobley XI are playing there after all these tenants keep using it. Where's the return? or will it be necessary to drill a well (or a rathole) at that place for the council to simply pour the buckets of cash down it? Challenge to Mr Mayor his thirteen assistants and the tories standing in the next council election - Try saying NO to lining Peels pockets a few times..and again, not just in the leafy suburbs. We gave them enough to do up their property on the quays (formally the docks) - so they should be financially fit to run their own operations by now. |
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Salford Red wrote
at 07:50:00 on 18 August 2014 |
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| Karen - Salford RLFC being owned by a multi millionaire is irrelevant, seeing as Salford RLFC don't own the ground. Feel free to be rightly aggrieved, but don't aim your grievances in the wrong direction. |
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wrote
at 13:31:55 on 16 August 2014 |
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| Why should Salford taxpayers subsidise lossmakers. Its not as if the stadium is ever going to generate a profit for us, everyone who uses it has to pay a fee, so its a double whammy for Salford. I don't know how SCC get away with it, they've no mandate from the people to continue pouring money into this development. I also agree with the East Salford resident re the devolved budget fiasco. Too often panel members have little or no control over the budget allocations, the terms and conditions make it very easy for Cllrs or neighbourhood managers to cajole the panel into subsidising what are in effect council services or pet projects (Coens totem pole, arms length-Fit City, N/hood mgmt-stationery etc, Urban Vision-plans. I also totally disagree with subsidising the Salfordian hotel, a business I might add, and yet another of Cllr Lancasters pet projects, The Salfordian applies year in year out to ALL the CCs for funding, surely they must be generating a profit and if they aren't then they shouldn't be in business. For goodness sake, its in Southport and not exclusive to Salford residents, I would much rather the money went to the children's holiday camp knowing that it is solely for the use of the children of Salford |
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barbara hargreaves wrote
at 06:11:57 on 16 August 2014 |
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| Everybody in salford please wake up. The next cuts could affect you don't let this council squander any more money when people are suffering. |
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East Salford Resident wrote
at 06:11:54 on 16 August 2014 |
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| To the Mayor and his bakers dirty dozen. Enough is enough Just how much more are you going to push Salford residents. From the day Salford Reds new ground was announced we knew it was a no no. Did anyone have the foresight to check regular attendees' addresses? No. This may have given the planners some insight as to future attendances. It seems that there is a dead horse being flogged and no amount of funding will revive it.
You all are also guilty of riding rough shod over Community Committees by demanding funding from them that should be funded by Council eg. Funding for Supervisors wages for the Payback Team, CCTV etc. Also funding through Devolve Budgets for on going maintenance for the Salfordian Hotel at Southport. Surely enough is enough. |
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Daisy wrote
at 06:11:48 on 16 August 2014 |
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| I think I should ask for a refund on my council tax... it is an absolute shameful waste of tax payers money ... does the National Audit Office get involved with Local Councils? ... if not who is the independant body that looks how these guys? This decision has to be investigated .... |
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Confused wrote
at 06:11:41 on 16 August 2014 |
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Ben wrote
at 06:10:47 on 16 August 2014 |
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| There is no law that says you have to pay council tax, but there is a law that says the council has a duty to get the best value for money for local people. If we all just stopped paying council tax till they resigned that would soon sort this shower of sh*ties out. Once gone we can get forensic auditors in and have the lot sent to prison. |
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Karen wrote
at 18:01:40 on 15 August 2014 |
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| I totally object to my council tax being used in this way.
This club is owned by a multi millionaire! Meanwhile transport for vulnerable adults is being cut.
I don't know how this council sleep at night! |
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KEVIN COOPER wrote
at 18:01:34 on 15 August 2014 |
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| tHIS IS AN ABSOLUTE AND UTTER DISGRACE TO KEEP SHELLING OUT THESE MASSIVE LOANS AND PAYOUTS AS THOUGH THERE WAS NO AUSTERITY ANDHARDSHIP FOR THE POOR,DISABLED AND VULNERABLE IN THE TOWN.
yOU ARE A DISGRACE MR LANCASTER AND YOUR PRIORITIES ARE VERY WRONG.
DO YOU NOT CARE ABOUT THESE PEOPLE WHO ARE SUFFERING IN SALFORD AND WHO VOTED FOR YOU.
WHERE IS THEIR VOICE IN THIS.
WE DO NOT WANT YOUR COUNCIL DOING THIS TO THE DETRIMENT OF OTHERS.FOR ONCE GET A CONSCIENCE STOP ACTING ARROGANT AND REMEMBER WHO YOU ARE SUPPOSED TO REPRESENT. |
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noreen wrote
at 18:01:29 on 15 August 2014 |
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| well are we just a bunch of clowns in a circus of horrors how dare this mayor do this and then turn round and cut our most vulnerable services what a disgrace I cant believe what I have just read do you know ian stuart you are the biggest mistake that Salford ever made but I can assure you this you may take the micky out of us or so you think but you just watch this space this has to be looked into no more will we be your clowns do what you want to with us all you and your maids are going to get one big shock you have robbed our vulnerable for the last time |
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Peter Carter wrote
at 18:01:26 on 15 August 2014 |
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| Salfords Labour party relies on the stupidity of the voters of Salford. They know they can do what they want and the fools will still turn out and vote for them every time. |
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Gareth L wrote
at 18:01:19 on 15 August 2014 |
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| Is there not an independent body they can be reported to? |
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Paul Gerrard wrote
at 18:01:03 on 15 August 2014 |
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| Mary Ferrar is quite right (though I'm not sure that her party leader Mr Farage would agree with her, since he is a Thatcherite who wants to 'shrink the state'). The council find a million for dodgy loans to the stadium but won't afford £600 000 to retain transport for adults with disabilities. Says it all, really. |
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mary ferrer wrote
at 12:59:52 on 15 August 2014 |
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| Let me get this right. Salford council are giving a loan to the Stadium ( Not the Reds ) But don't the Council own the bloody white elephant. Has Mr Lancaster and the rest of the idiots borrowed more money to lend the money to the council or have they found this money in the bottom of a draw. Because they keep telling us WE are skint thats why all the young,old disabled and vunerable members of our communities are suffering.
How the hell are they being allowed to get away with this.Come on voters wake up and do something about them. Don't let them take the p-ss out of each and everyone one of us in Salford.Get off your bums next May and make your vote count. |
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