Salford Red Devils given three-year loan repayment 'break'

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The club was loaned £1.5m by Salford City Council in 2013

Rugby league side Salford Red Devils has been given a three-year break on loan repayments, the city’s council has said.

The club was loaned £1.5m by the local authority in 2013 after facing financial problems – with an agreement to repay the amount over 25 years.

The decision follows similar deferments in 2015 and earlier in 2017.

City mayor Paul Dennett approved the new postponement due to the club’s “financial difficulties”.

In September, the club’s owner Dr Marwan Koukash handed over control to a community trust.

Dr Koukash took over the Super League club in 2013 after fears it could go into administration.

Mr Dennett said it was “concerning to hear about the continued financial difficulties faced by the club”.

“Our accountants will have full access to the club’s accounts and finances and we are determined to turn things around,” he added.

A council spokesman said the postponement was on the condition the club kept its name and played its home games at the AJ Bell Stadium and would be subject to an annual review.

He said some repayments had been made since 2013 and the loan would still be repaid in full by 2038.



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