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50% OF SALFORD CITY FC NOW HELD IN TAX HAVEN VIRGIN ISLANDS
 

Star date: 4th December 2015

FROM KERSAL TO THE BRITISH VIRGIN ISLANDS

As Salford City FC makes history again tonight when the team plays Hartlepool in the second round of the FA Cup, it's not just on the pitch happenings that are redefining the club. Fifty per cent of its shares are now registered through Incanto Investments Limited, registered in the tax haven British Virgin Islands.

Meanwhile, back in Kersal, how are local residents coping with the phenomenal growth of Salford City, with crowds increasing tenfold from a few years ago?

Full details here...


Salford City FC Salford City FC Salford City FC
Salford City FC Salford City FC Salford City FC
Salford City FC Salford City FC
click image to enlarge

A few years ago, Salford City FC were run from an industrial estate down in Pendlebury, crowds averaged around one hundred hardy supporters and players received around £75 a week, or nothing if they didn't get on as a sub. How times have changed...

The Guardian's Salfordian journalist, David Conn, this week revealed how fifty per cent of the club's shares are now held by Singaporean businessman and Valencia owner, Peter Lim, through his Incanto Investments Limited, registered in the tax haven of the British Virgin Islands.

Last December, Incanto took a half share in the Salford City vehicle Project 92 Ltd, set up by Ryan Giggs, Gary Neville, Phil Neville, Paul Scholes and Nicky Butt, and now has fifty per cent control, via director Lay Hoon Chan.

Lim, through Incanto, has also taken a 75% stake in the other `Class of '92' projects, Hotel Football, Cafe Football and other property developments.

Salford City FC is now part of a global network of companies, with its recent tangerine-clad history well in the past. The biggest moments of previous years were avoiding relegation from the Evostik First Division to the North West Counties league in 2009 (see here) and almost making the fourth qualifying round of the FA Cup in the same year, when just two fans made the journey to Blyth Spartans (see here).

Now, having stormed the Evostik First Division last season and riding high in its Premier League this season, the team play Hartlepool tonight attempting to get into the Third Round of the FA Cup, with the whole city behind them and a national BBC tv audience egging them on.

Back in Kersal, around the club's Moor Lane stadium which has never seen such huge regular crowds, opinion is split on the success of the club, with roads around the ground gridlocked on match days. This morning, cones were being placed on roads all around Moor Lane in an effort to placate the local community.

A resident of Nevile Road said she was pleased that the car parking problem was being dealt with by the Council but would like the arrangement to stay for every match, ideally with resident parking permits. She was also concerned about future growth and had hoped the ground would be used for a youth football academy.

Jon, a resident of Moor Lane, was happy that the car parking was being sorted as it had been major problem, while Matthew, a resident of Nevile Road, told the Salford Star that the alleyway behind the terrace houses was used as a urinal on one occasion with drink tins thrown over the fence. Moor Lane resident, Flo Eccles, said "It's the wrong place for an up-and-coming football club, it should move."

Others were more positive. Joe and Moureen Tobin, long standing residents of Nevile Road, remembered large crowds when the stadium was used for rugby... "We're happy the ground is being used and, as the games are infrequent we don't suffer any inconvenience."

Ian Maton, who works as catering manager for Salford City, is thrilled with the development and, as a local resident from childhood, is keen to preserve the area and not irritate the community. Similarly, George Russell, who is head groundsman for Salford City, lives on Moor Lane and cares about the neighbourhood, was also obviously happy with the growth of the club.

Anthea Darlington, a member of the St Paul's Parish Council and a long term resident, saw the car parking as similar to what happens when there is a large funeral... "We are used to it" she said "I'm glad that there will be more police on duty but otherwise I'm not concerned"

However, she added: "It can't continue to grow – it will have to move one day but I wonder where to..."

The Salford Star understands that talks are already underway between the club's owners, Salford Council and Salford University about a site for a new stadium, although club secretary, Andy Giblin declared: "If this was true it would be news to me!"

He added that the club was aware of issues with parking... "We are currently liaising with the local authority with regard to controlling parking on match-days. Our cup tie will be monitored by wardens, with areas of Moor Lane and Nevile Road coned off. This may well be extended to league games if the current level of support is maintained..."

With the Salford City hype in overdrive - centred on the Class of '92, the BBC Out of Their League documentary and the ongoing feats of the team - there looks to be no let up in the drive towards pushing the club towards the football league – a surreal pipe dream come true for those who witnessed the days when Rhodri Giggs was the manager, goal scorer and saviour of the club.

While Peter Lim, Ms Lan Hoon Chan, Gary Neville and co play out their fantasy football game in real global life, residents in Kersal just want to know whether they will be able to park their cars outside their houses on match days...


Interviews conducted by Alice Searle

See also previous Salford Star articles...

The Class of Vincent Tan - part one - click here

The Class of Vincent Tan - part two - click here

Inside Out wrote
at 19:01:42 on 07 December 2015
None of the above is the real story. These people are property developers. They have different partners for different projects but essentially draw from the same group. Property developers are there to take land and make money. They can make money from investing offshore and shifting assets that would otherwise be taxed at very high rates into places where they're not, but they have to look like the money is doing something. It needs to be part of a project. SCFC is a project. Salford, like FGR above them, simply cannot sustain a football league club without sugar daddy ownership of this type so people need to ask themselves why these people are there? What do they stand to gain? Land perhaps, for development? I suspect the next thing people will discover is that the club is separated into different companies. One owns the land and one owns the rest. Would be surprised if that hasn't happened already. The only real asset is the land. There's no other reason for property developers to be involved in a club. Happened loads of other places. Don't be distracted by the fact there's ex footballers involved. They're genuine enough but effectively a human shield for what the money men want. They add a lovely, localised romantic angle but it's nonsense really. The BBC mini series was a disgrace to journalism. A puff PR piece on a so-called public service channel. Half a minute of investigation would suggest there's serious questions to be asked here but the BBC will never ask them. SCFC need to move. The owners need them to move and SCC needs them to move as the AJ Bell is a disaster of a stadium for all concerned. You can script this really. At the end of this SCFC will be maintained by fans but won't have a ground. This is how football works nowadays sadly. Exploited for money. The rich get richer and the fans get shafted.
?
Salford wrote
at 09:20:40 on 07 December 2015
Or perhaps this is a piece softening up the people of Salford for the fact that a Singaporean Billionaire and some footballing Milionaires are due to steal the David Lewis playing fields for free
?
Alice wrote
at 18:35:11 on 04 December 2015
I would like to add a little history to this hype and excitement. The Salford Club has been famous before and attracted thousands of supporters. It was then a rugby club and most fans walked or got the Bury New Road tram so no car parking problem. Also forgotten is the fact that the Heritage Lottery promised to finance a Heritage Centre depicting the history of sport in the area, such a horse racing, archery as well as rugby (football). This was to be placed in a new club house which would also become a community meeting place for the area. I wonder if the Class of 92 and Mr Lim would like to reconsider this as they count the takings! That would be effective PR!
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