Salford Red Devils Secure Financial Stability & Reaffirm Commitment to Long-Term Growth
Following a challenging financial period, Salford Red Devils are pleased to announce a significant step forward in securing the club’s future.
Since the acquisition in February, the club has faced a number of financial hurdles, primarily stemming from legacy debt linked to a historical arrangement between the previous owner and Salford City Council.
An essential £1.8 million investment—pledged by an external backer and anticipated by November 2024—failed to materialise, significantly disrupting the club’s financial planning. Matters worsened in May when Salford City Council unexpectedly withdrew from negotiations to purchase the AJ Bell Stadium, a key element of the club’s investment strategy. This decision, in breach of agreed non-disclosure agreements (NDAs), undermined funding plans and discouraged potential investors by prolonging uncertainty around existing debts. For clarity, the club has met all contractual obligations and complied fully with NDAs throughout the stadium discussions.
Despite recent setbacks, the club is in the process of establishing a new team to stabilise operations moving forward, alongside securing bridge funding that restores immediate financial stability and lays the foundation for a sustainable future. This marks a turning point and underscores the consortium’s long-term commitment to the Red Devils.
Salford’s proud legacy remains one of its greatest strengths. As recent uncertainty subsides, the club is confident it will attract fresh talent inspired to contribute to the rebuilding of a storied institution. We are committed to creating an environment where players, staff, and supporters can thrive.
The departure of our previous CEO in May led to a gap in official communications. We acknowledge this disruption and assure our community that renewed efforts are underway to maintain transparent and consistent updates moving forward.
Chronic underfunding—exacerbated by average attendance figures of approximately 4,000—has left the club in a state of prolonged financial stress. This is not a reflection on any former ownership, but rather a systemic issue we are determined to resolve. Our focus remains firmly on long-term solvency and stability.
We remain open to resuming discussions with Salford City Council regarding stadium ownership. Despite misleading comments from certain council staff on social media, we continue to seek a professional, constructive dialogue and await a substantive response.
While some player departures have occurred due to ongoing financial uncertainty—even after sharing full funding documentation—we respect those decisions and remain committed to transparent operations and a strong team culture.
The bridge funding will be fully available and settled by the end of August, to be repaid by the club’s ownership group as part of their long-term investment. Our consortium remains fully committed to supporting Salford Red Devils sustainably.
The club’s next legal engagement with HMRC is scheduled for 3 September.
We understand the frustration many fans feel. But we want to be clear: Salford Red Devils will not close. We have consistently met wage obligations under difficult conditions and continue to tackle over £3 million in inherited debt. Your patience and support are deeply appreciated as we work to return SRD to its rightful position in the sport.
