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KOUKASH OUT AS SALFORD RED DEVILS OWNERSHIP ‘IN HANDS OF SUPPORTERS’
 

Star date: 9th January 2018

'FANS CONSORTIUM' SALFORD RD HOLDINGS TAKES OWNERSHIP OF SALFORD RED DEVILS

Salford Red Devils has announced the takeover of the club by a not-for-profit consortium, Salford RD Holdings, with four new 'fan' board members. The move signals the end of the controversial reign of Marwan Koukash who, the club states, has relinquished control.

"The new ownership structure puts the control of the Club into the hands of the supporters" says board member Andrew Rosler.

Full details here...


Marwan Koukash terminated as Salford Reds Director
click image to enlarge

Salford Red Devils have announced that "A new not-for-profit holding company, Salford RD Holdings has taken over the ownership and control of the club from former owner Marwan Koukash".

The brief statement named four new board members of the company, made up of an insolvency practitioner, a tax expert, a marketing professional and a charity worker, as it declared "a new era has begun at Salford Red Devils..."

The new board consists of Andrew Rosler, owner of Ideal Corporate Solutions Limited; Asif Latief, Marketing Director at A-Plant; Hannah Fendall, Senior Associate at Williamson and Croft LLP; and Dawn Fidler, CEO of The Joshua Wilson Brain Tumour Charity.

The RFL has finally approved the deal after some stalled negotiations and launches. Meanwhile, the Marwan Koukash controlled company, Salford City Reds (2013) Ltd, was almost struck off for failing to submit accounts to Companies House but the action has been discontinued; although accounts are still to be published.

In November, Salford City Council announced that it had extended the payment 'holiday' on its loan to the Reds of over £1million until 2020 (see previous Salford Star articles – click here and click here). The Club has made no statement on how this loan will be secured in the future, nor the legal relationship between the new and old company*.

"This is truly an historic day for our Club, as the new ownership structure puts the control of the Club into the hands of the supporters" said Andrew Rosler "As a new board we can't wait to get down to business - I am sure we are at the beginning of a really exciting period in the Club's history and we look forward to working in collaboration with the supporters, businesses and the wider community of Salford to bring long overdue success to the Club."

Salford Red Devils begin the new season with a friendly against Swinton Lions on Sunday 14th January at the AJ Bell Stadium

Photo by Gareth Lyons

* Update 9:30am: Companies House has today reported that Andrew Rosler, Asif LatiefHannah Fendall, and Dawn Fidler have been made directors of Salford Reds (2013) Ltd...while Marwan Koukash has been 'terminated' as a director.

Update: 5pm: Asif LatiefHannah Fendall and Dawn Fidler have now had their directorships of Salford Reds (2013) Ltd 'terminated'. All in the space of a day!

Update: 10th January: Salford RD Holdings has been announced as the Relevant Legal Entity (RLE) within Salford Reds (2013) Ltd, with Significant Control

Salford lad wrote
at 08:28:17 on 13 January 2018
Salford Reds are andead suck of no value to Salford whatsoever just a drain on the public purse. Ownerships has been past to a bunch of stool pigeons to avoid the debt. Can’t wait for it to be demolished so affordable homes can be built there. I note the isusal diatribe from Felse and Ferrer!
 
Mary ferrer wrote
at 20:39:13 on 10 January 2018
Sorry got sent before I had finished. They both agreed they would be personley be responsible for the outstanding debts of over a million pounds. Never happened 7
 
Mary ferrer wrote
at 20:39:10 on 10 January 2018
I can't understand why Salford council didn't call in the agreement they had with Wilkinson and Watson. They signed an agreement that they would be personley be
 
Bob wrote
at 18:20:06 on 10 January 2018
Mary is bang on right with her comment.Will it be the same arrangement as before? (was it something like we will pay you when we get gates over 8000). or will it be forgotten about ,and agreed to be forgotten about, between the new owners and the clowncil? Time will tell,unless there is some kind of secrecy agreement. Whatever it is, the clowns will never get their money back. I mean, our money back. Talk about forgetting things, where Mr Editor ,is the story promised about the Salix £1.3million Salix got to help homeless people. You might have forgot, but I haven't.
 
Michael James Felse wrote
at 18:19:50 on 10 January 2018
Hi Mary. Too much distraction over the loan. It is easily written off by simply converting Council shares instead of a loan. Those can then be sold to either supporters at £1 each or to investors and the £million raised given to a Salford charity for youth sports with that offset against tax. Always alternatives but the main thing now is for Salford Council to support the supporters club, ending the cloud over that loan.
 
Mary ferrer wrote
at 07:47:10 on 10 January 2018
I am glad the club is still going.Never had a problem with Salford Red.they have done well to survive all the ups and downs over the years.I wish them well. My worry is what happens to the money outstanding to the people of Salford. I am also worried about the Stadium. There is only so much money we can throw at this white elephant. Sale shark's have said if they can't buy the stadium they will walk away.Then what.biggest and very costly mistake by Councillor Lancaster.
 
bytheway wrote
at 17:00:39 on 09 January 2018
Obviously this means Buile Hill Mansion will be packaged with this, so they can borrow even more against this asset of Salford, Cllr John Merry & Lancaster comes through once more..
 
Retired socailst wrote
at 13:10:16 on 09 January 2018
Is this like rats leaving a sinking ship? what about the money owed to the ratepayers of the good ship salford? and what do these good people know about running a money pit.
 
Michael James Felse wrote
at 13:10:11 on 09 January 2018
I can only see good news here. Well done to all the dedicated fans you deserve Salford's thanks. If I was Mayor I would now write off the loan debt offsetting it against tax. I demand our Mayor does this action immediately to give Sport in Salford a fresh life, hope and clear message that Salford loves Sport.
 
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