Salford Red Devils have announced that player sales will now begin ‘without delay’ after they have been instructed to reduce their salary cap spend to £1.2million.
In a statement released this evening on their financial position they said
“the Club has been directed to sell players without delay; the position is the RFL have issued a sustainability cap of £1.2 million and until we reach that, we are now prohibited from registering players for the upcoming season.”
The Red Devils acknowledged that they had received an advance on the 2025 season’s commercial revenue but that the terms of receiving the advancement were that the Club be placed under ‘special measures’ requiring a reduction in overheads of £800,000.
On December 13th Salford City Council finally announced that it had completed the acquisition of the stadium.
Given the proximity to the festive period, the club said it was unable to contact the council to secure an immediate meeting and ascertain next steps in order to maximise Club revenue opportunities.
Prior to acquisition, one investor negotiation collapsed due to the investment risk of not having any confirmed position from the Council on when the stadium acquisition would be finalised an example, say the club, of the delicate negotiating position we find ourselves in.
They have also been in a holding pattern with the Giant Advertising screen development alongside the M60 motorway, another critical enterprise and important contributory factor to drive the Club forwards towards financial stability.
This project has been in abeyance for approximately 12-months awaiting the acquisition of the stadium. Additional income was due to be unlocked once the stadium deal had completed, which had been built into Club revenue planning.
Meanwhile they add
“In November 2024, Salford City Council advised that the subsidy control grant was not available due to funding shortfalls elsewhere, the impact of which was that the club had already committed funds to player and staff recruitment and paid for pre-season preparations including a warm-weather camp in Portugal. Effectively, these projected funds had already been allocated“
