HOME   ARCHIVE   GALLERY   SHOP   ABOUT US      
 

 
SALFORD COMMUNITY STADIUM MAKES £1.5MILLION LOSS AS COUNCIL LOANS GROW
 

Star date: 19th June 2017

AJ BELL STADIUM MAKES HUGE LOSS AS SALFORD COUNCIL LOANS RISE TO OVER £24MILLION

Salford Council's City of Salford Community Stadium company made a loss of £1.459million last year, its draft accounts reveal. The accounts also reveal that the total value of loans made by the Council to the AJ Bell Stadium, a joint venture with Peel Holdings, rose from £23.46million in 2016, to £24.12million in 2017.

Meanwhile, the accounts also confirm that Salford Red Devils owner, Marwan Koukash, hasn't paid a penny back of the £1million debt to the cash strapped Council.

Full details here...


Salford City Council's draft accounts for 2016/17 show a sorry picture for the current financial state of the City of Salford Community Stadium, branded as the AJ Bell Stadium, and a joint venture with Peel Holdings.

In 2015/16 the Stadium actually made a profit of £671,000 but, as at March 2017, this had been turned into a loss of £1.459million.

The accounts also show that total value of loans from the Council to the City of Salford Community Stadium, or CoSCoS, rose in value from £23.46million in 2015/16 to £24.12million in 2016/17.

While the outstanding balance due to the Council from its original loan had reduced to £16.678million, from £17.142million the year before, loans for what it calls 'operational funding' saw £7.442million remain outstanding, increasing from £6.318million the previous year (see previous Salford Star article for background – click here).

As at 31st March 2017, CoSCoS Ltd also had net liabilities of £7.068million, compared to £5.610million the previous year.

The Council's draft accounts also confirm that Salford Red Devils owner Marwan Koukash hasn't paid a penny off the Salford Reds debt that he promised to clear, before endless payment holidays were agreed (see here). This debt has risen from £1.038million in 2016, to £1.061million in 2017.

Fred Mumford wrote
at 8:54:38 AM on Thursday, June 22, 2017
General opinion from those in the know at the time was it was a vanity project for the ex Leader and Deputy Leader of the Council, J Merry and David Lancaster to help out their mates at the Reds, groom egos and other dubious motives. Council borrows millions, lends more to a club that is never in a thousand lifetimes going to be or willing to pay it back, regardless of ownership, attendance, performance on the pitch, ground sharing etc etc Meantime massive local government cuts ongoing (dont forget this was approved when the coalition government was already in power and austerity measures were taking chunks out of budgets) and the fiasco continues. About time it was investigated externally!!
 
The end wrote
at 4:58:46 PM on Tuesday, June 20, 2017
Well shafted- pickles retired at rhe last election.
 
Lining loo wrote
at 6:06:06 AM on Tuesday, June 20, 2017
Well Labout party and indeed the labour council say they will support the most vulnerable in society, it seems to me that that statement is a vote catcher. Well Salford council your cover is well and truly blown. You should tell the truth the disabled, ,vulnerable people of Salford are losing out to well healed property companies it stinks. They go on all about the cuts and we are cash strapped when in truth we have plenty of money. But not for the services the people of this city needs. What's more they target the vulnerable small groups to make cuts. So stop telling lies. We have in the region of 60 councillors don't ash me why, it appears they are nodding dogs when it comes to voting. There's something seriously wrong here.
 
Robert Ward wrote
at 6:06:03 AM on Tuesday, June 20, 2017
This is a total scandal and it is time that the government investigate this,and in my opinion take direct control of this council.
 
well shafted wrote
at 6:05:53 AM on Tuesday, June 20, 2017
Pickles must send a financial investigation team to this shafted city
 
Mary Ferrer wrote
at 2:17:53 PM on Monday, June 19, 2017
Can't understand why the council build this white elephant in the first place. But they have,so where to from here. I have never seen any advertising for the building or the gym.No contact numbers. Don't think the council did any survey before they went ahead with the stadium. What will happen if the Reds change their name and move out of the city. I forgot to pay one month on my council tax £155. I got a letter saying I would be taken to court. £1.061million and no repayments made in how many YEARS. Something very wrong here. Close the Grange to save £300.000ish. This Labour run council should be brought to account. They have given themselves loan after loan to keep the stadium afloat. WE haven't got the money to do this,not when they take vital services away from the most need in the city
 
Please enter your comment below:
 
 
 
Salford Star Hoodies
Salford Star contact
Deli Lama
advertisement
 
Contact us
phone: 07957 982960
Facebook       Twitter
 
 
Recent comments
article: ‘ETHICAL’ AVIVA TRIES TO EVICT NEW MANCHESTER HOMELESS SQUAT
Chris is Robin Hood, taking the property of the rich to save those with nothing... [more]
article: SALFORD COUNCIL RUNNING FIRST AID FOR DOGS AFTER £1.6MILLION CUT TO HEALTH IMPROVEMENT
Our rulers must be barking!... [more]
article: SALFORD COUNCIL RUNNING FIRST AID FOR DOGS AFTER £1.6MILLION CUT TO HEALTH IMPROVEMENT
Simple! They've never been good at engaging communities so now they have gone for the poor dogs! P ... [more]
article: SALFORD COUNCIL RUNNING FIRST AID FOR DOGS AFTER £1.6MILLION CUT TO HEALTH IMPROVEMENT
sorry what a load of rubbish..never heard anything so daft ... so were is the money to help people in need ..... [more]
article: 91% OF SALFORD UNIVERSAL CREDIT CLAIMANTS IN ARREARS WITH CITY WEST
Mystic Meg, what real evidence do you have to support your accusations against the council? U.C. is a nationaĺ policy impos... [more]
 
 
 
 
 
Days
Hours
Minutes
Seconds
 
 
 

Donate

Help the Salford Star...

all donations welcome

 
 

More articles...

SALFORD COUNCIL RUNNING FIRST AID FOR DOGS AFTER £1.6MILLION CUT TO HEALTH IMPROVEMENT

Star date: 19th January 2018 

DOGS FIRST AID COURSE AFTER HUMAN GROUPS CUT

"An insult to the people of Salford..."

Salford City Council is using its Health Improvement Team to run First Aid For Dogs courses, after slashing £1.6million from its budget which helped improve the lives of humans.

The courses, run in conjunction with the PDSA, cover doggy bloat, doggy bandaging and resuscitating doggies... "It's an insult to the people of Salford that managers are putting the health of dogs before the health of people" says one resident affected by the Health Improvement cuts.

Full details here...

‘ETHICAL’ AVIVA TRIES TO EVICT NEW MANCHESTER HOMELESS SQUAT

Star date: 18th January 2018

MANCHESTER COUNCIL SAYS 17 HOMELESS PEOPLE 'WOULD NOT BE INTERESTED IN RELOCATION BECAUSE THEY ARE ACTIVISTS'

After the brutal eviction of 17 homeless people from occupied offices above BetFred in Manchester centre on Monday morning, they have taken refuge in a new building on King Street owned by Aviva Investors Pensions Ltd. Tomorrow, the company is taking the homeless people to court to face further eviction, despite its 'social purpose' statement that "one of our values is to 'care more'"...

Meanwhile, the homeless people are furious about a statement purportedly made by Manchester City Council on the court papers that "they would not be interested in arranging any relocation because they are activists"...

Full details here...

91% OF SALFORD UNIVERSAL CREDIT CLAIMANTS IN ARREARS WITH CITY WEST

Star date: 18th January 2018

HUGE INCREASE IN SALFORD RENT ARREARS DUE TO UNIVERSAL CREDIT

91.3% of City West tenants claiming Universal Credit are currently in arrears with their rent payments, compared to 42.3% of tenants in arrears who are not claiming Universal Credit.

Relating the figures to yesterday's full meeting of Salford Council, City Mayor Paul Dennett added that there was "a clear correlation between the introduction of Universal Credit and increased use of collection orders.

Full details here...

NEW CLADDING FOR SALFORD TOWER BLOCKS IN MARCH SAYS DEPUTY MAYOR

Star date: 17th January 2018

PENDLETON BLOCKS WILL HAVE NEW CLADDING IN MARCH

At today's full meeting of Salford City Council, Deputy Mayor, John Merry, said he was "fairly confident" that new cladding will be put on the nine Pendleton tower blocks, beginning in March. He added that residents' safety had been put "top of the list...I don't think anyone can complain".

John Merry disclosed that documentation relating to cladding on blocks owned by Salix and City West had been sent to councillors, although nothing has been published for the public. He added that a report into how the dangerous cladding was put onto the blocks in the first place will soon be available.

Full details here...

SALFORD HOMELESSNESS CONFERENCE EXCLUDES HOMELESS AT OVER £325 PER TICKET

Star date: 16th January 2018

SALFORD UNIVERSITY CONFERENCE PROMISES 'UNIQUE INSIGHT INTO CAUSES OF HOMELESSNESS' – WITH NO HOMELESS PEOPLE PRESENT

A University of Salford conference which promises to "provide unique insights into the underlying causes and potential solutions to the homelessness crisis" is charging £325+VAT per ticket, thus excluding not only the homeless but also grass roots housing organisations.

One of the speakers is Salford City Mayor, Paul Dennett, while a panel will ask 'How can we most effectively improve services to vulnerable homeless households and individuals?'...without any 'vulnerable homeless' people there to share their views.

Full details here...

 



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