Salford must produce extra funds stadium deal promises to avoid fire sale
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SALFORD have been told to stop a fire sale by showing the money the transformative new stadium deal promises – sharpish. The Red Devils finally learned on Friday the city council’s £7.7 million buyout of partners Peel had gone through after 10 months of delays.
![[Salford boss Paul Rowley may have to sell players if extra revenue the new stadium opens up deal does not arrive soon]](https://www.thesun.co.uk/wp-content/uploads/2024/04/9OH09639.jpg?strip=all&w=960)
But even that may not be enough to halt Paul Rowley’s stars having to leave after Rugby Football League financial experts examined their books. Commercial agreements waiting to be activated can now be - after hold-ups cost the club three - and an advertising screen facing the neighbouring M60 motorway can be put in.
![[City Mayor Paul Dennett will now work on 'sweating the asset' more - but time is running out]](https://www.thesun.co.uk/wp-content/uploads/2024/02/RLsalfordstadium14.png?strip=all&w=960)
However, sources say the quickest way that can properly be prevented is by an investor coming in as three parties are currently going through due diligence. For even though the council’s deal promises to open up new revenue streams, they will not be counted until cold, hard cash comes through the door.
It is believed the authority’s decision to pull a subsidy control grant at the beginning of November, after it had been promised earlier, contributed to a financial shortfall and a demand for an advance of Salford’s central distribution money. Prioritising other services was behind the call but that meant enhanced special measures and the RFL’s director of finance Rob Graham and two independent experts, including former Wakefield chief executive Michael Carter, looking at the books.
