Homepage  |   E-mail this article  |   Print

---

---

Advertisement

8:36 am, January 18, 2010
Salford City Reds takes £350,000 loan from council

By Simon Binns

Salford City Council has loaned Salford City Reds rugby club £350,000, which is understood to be helping pay wages and running costs at the club.

The council has not disclosed the purpose of the loan but John Merry, council leader, said the authority was committed to helping the club “sees its way into 2012 at its new stadium.”

Salford City Council set up a joint venture partnership with developer with Peel Holdings to carry out work at the new stadium, which needs to find £20m to allow construction to begin.

The Super League club sold its current stadium, The Willows, to Godliman Watson Homes Ltd last year.

Merry added: "The club puts a lot back into our communities and works tirelessly with young people and schools and we will support it like any other organisation that benefits the city in such a way."

Salford got its Super League franchise largely thanks to its commitment to build the new stadium in Barton.

Comments?sbinns@crain.com