Quote="BartonFlyer"For the same reason the nation subsidised the Olympics?
I think it's called democracy, if you don't like it, don't vote for it
'"
Total nonsense. you're nothing like the Olympics
It's not democracy either, in fact it's the total opposite and if you must know I think that the vast majority of Salford's citizens wouldn't vote for it, now that would be democracy in action and you'd have to make a fair contribution
Quote="BartonFlyer"All clubs are businesses - we've had too long being poorly run, if there's a commercial advantage to be had then grab it - I see nothing wrong in that.'"
Conveniently skirted around the fact that there is still a company carrying the name of Salford in a CVA Owing some 4.5 million part of which is a loan which will take the council 25 years to get back interest free. Then another 5 years to repay others unfortunate enough to have traded with your club..........
Not ignoring it in the least marshy - read my words - "if there's a commercial advantage grab it!"
No-one forces anyone to trade with anyone else, it's unfortunate as a supplier if a customer fails but that's a harsh reality that happens. The creditors did not have to agree to the CVA, they took the collective view that it was better to get their money back over time rather than force a winding up and get nothing.
So many people are quick to point the finger at Salford RLFC, but let us just recap. WIlky had his own set up to build a stadium through Red City Developments, there is a financial crash and RCD goes tits up. Peel speak to the council for their own reasons, and I will not speculate what they are! Before too long a new Joint Venture Company, similar to the Wilky model with RCD is established. But this does not include the Rugby Club. The Council and Peel do their own due diligence and decide that they can make the JVC work and offer Salford Rugby Club a tenancy agreement. The rest is history as they say. Now the Council and Peel (the joint shareholders in the JVC) are faced with either doing nothing, which could lead to the JVC entering Administration. Or putting some more capital into the JVC to see it over, which is what they have done, or try and sell the stadium on.
The real issue lies not with the Rugby Club, but with the Council and Peel who decided between them they could design, build and operate a sports stadium, when neither organisation had any previous experience of doing so.
Salford RLFC had financial problems long before moving into the stadium, so the issue of entering administration or a CVA was always a possibility, Koukash has merely stepped in to the breach, and as the owner has a responsibility to look after the clubs interests, NOT the Councils, or Peels or the Stadium JVC's.
All views expressed are those of the author and not necessarily those of the RLFANS.COM or its subsites.
Whilst every effort is made to ensure that news stories, articles and images are correct, we cannot be held responsible for errors. However, if you feel any material on this website is copyrighted or incorrect in any way please contact us using the link at the top of the page so we can remove it or negotiate copyright permission.
RLFANS.COM, the owners of this website, is not responsible for the content of its sub-sites or posts, please email the author of this sub-site or post if you feel you find an article offensive or of a choice nature that you disagree with.