Salford Council have agreed to fund a further loan to the AJ Bell stadium, the home of Sale Sharks and Salford Reds.
A sum of £632,500 was agreed at the council meeting this morning.
The owners of the stadium have been loaned almost £25 million with nearly £17m of that being for the construction of the stadium, the balance being for operational losses.
According to the Salford Star, the stadium company made a £1.459 million loss last year, a dramatic fall from their profit of £671,000 the year before.
The loan is to be provided by Peel Holdings, the council’s joint venture partner on the stadium.
The council regards the stadium as a “valuable local asset” and employer.
As well as being the home of the top flight rugby league and rugby union clubs, the stadium also has pitches for community use and hosts events such as conferences, weddings and awards dinners.
