The following is an update from the Board of the CBS, issued earlier directly to shareholders.
As you would have seen earlier this week, all clubs received their IMG indicative scorings prior to the ‘live’ scoring 2024 Season. We were pleased that our Club scored 13.80, ranking us 8th overall.
Being the only Community Benefit Society owned club out of the 35 involved in the grading process, we consider this a positive, yet deserved outcome ahead of the 2025 season where all clubs will be placed in their respective competitions.
As clearly set out in the Community Share Prospectus, our aim is to reach Grade A status and then to keep pushing for improvement year on year.
We are confident that the transition to community ownership, the funds raised via the Community Shares and the increased level of fan engagement, had a positive and direct impact on the scores announced and will do so for the season ahead. But this is only the start and we ALL must keep working hard together as an ownership group.
Below, is a table of the scores broken down into the five grading pillars:
You will see that there are areas which require more improvement than others and that is why we set up the Sub-Committees so owners can contribute directly in a focussed and organised way.
All the Sub-Committees have been formed and have had initial meetings, however, it is not too late for shareholders to get involved if interested. If so, please email owners@salfordreddevils.com with Sub-Committees as the subject.
Financial sustainability is a key area to work on and the Club has to be robust and disciplined in respect of budgets and governance.
Of course, we all want to see a winning team, however, we must ensure that investment on the pitch is matched with sustainable growth off the pitch. Our priority has to be increasing non-central revenues and fundraising so that we can support our Club investing in the playing squad in a solid and predictable manner and with a long term vision.
We have, in other updates mentioned the Community Ownership Fund and the Community Share standard mark. These are crucial initiatives that are only available to us as we are community owned and we must take advantage to secure such unique funding.
The announcement of the gradings underpins the plans set out in the Community Share Prospectus and we will be working on a further Prospectus in the short term. Working with the Sub-Committees and other stakeholders will help increase the reach and value of the next share issue.
We are also confident that the Stadium discussions will be resolved soon, and this will very much dictate the application to the Community Ownership Fund whilst also having a positive impact on the Stadium IMG scoring.
So, lots to be positive about and despite there being plenty of challenges ahead, we should look forward as an ownership group to taking on the big boys on and off the pitch.
But we can’t do it alone, we are #TogetherStronger, so get involved.
Regards
The CBS Board
