Star date: 23rd October 2012
A Salford Star Exclusive
SALFORD REDS GOT LOAN AND OVER £200,000 COSTS FROM ITS OWN REDS FOUNDATION
Salford City Reds, currently awaiting a winding up petition hearing, has been receiving `costs' and a loan from its own related charity, the Salford City Reds Foundation, which was set up "for the benefit of the public generally".
The club has recharged the charity over £200,000 for "use of facilities, promotional activities, and coaches and players", and has also received a loan from the Foundation of almost £60,000. Salford City Council has funded the Foundation with over £250,000 for its charitable activities.
Full story here…