HOME   ARCHIVE   GALLERY   SHOP   ABOUT US      
 

 
SALFORD COMMUNITY STADIUM MAKES 1.5MILLION LOSS AS COUNCIL LOANS GROW
 

Star date: 19th June 2017

AJ BELL STADIUM MAKES HUGE LOSS AS SALFORD COUNCIL LOANS RISE TO OVER 24MILLION

Salford Council's City of Salford Community Stadium company made a loss of 1.459million last year, its draft accounts reveal. The accounts also reveal that the total value of loans made by the Council to the AJ Bell Stadium, a joint venture with Peel Holdings, rose from 23.46million in 2016, to 24.12million in 2017.

Meanwhile, the accounts also confirm that Salford Red Devils owner, Marwan Koukash, hasn't paid a penny back of the 1million debt to the cash strapped Council.

Full details here...


Salford City Council's draft accounts for 2016/17 show a sorry picture for the current financial state of the City of Salford Community Stadium, branded as the AJ Bell Stadium, and a joint venture with Peel Holdings.

In 2015/16 the Stadium actually made a profit of 671,000 but, as at March 2017, this had been turned into a loss of 1.459million.

The accounts also show that total value of loans from the Council to the City of Salford Community Stadium, or CoSCoS, rose in value from 23.46million in 2015/16 to 24.12million in 2016/17.

While the outstanding balance due to the Council from its original loan had reduced to 16.678million, from 17.142million the year before, loans for what it calls 'operational funding' saw 7.442million remain outstanding, increasing from 6.318million the previous year (see previous Salford Star article for background click here).

As at 31st March 2017, CoSCoS Ltd also had net liabilities of 7.068million, compared to 5.610million the previous year.

The Council's draft accounts also confirm that Salford Red Devils owner Marwan Koukash hasn't paid a penny off the Salford Reds debt that he promised to clear, before endless payment holidays were agreed (see here). This debt has risen from 1.038million in 2016, to 1.061million in 2017.

Fred Mumford wrote
at 8:54:38 AM on Thursday, June 22, 2017
General opinion from those in the know at the time was it was a vanity project for the ex Leader and Deputy Leader of the Council, J Merry and David Lancaster to help out their mates at the Reds, groom egos and other dubious motives. Council borrows millions, lends more to a club that is never in a thousand lifetimes going to be or willing to pay it back, regardless of ownership, attendance, performance on the pitch, ground sharing etc etc Meantime massive local government cuts ongoing (dont forget this was approved when the coalition government was already in power and austerity measures were taking chunks out of budgets) and the fiasco continues. About time it was investigated externally!!

The end wrote
at 4:58:46 PM on Tuesday, June 20, 2017
Well shafted- pickles retired at rhe last election.

Lining loo wrote
at 6:06:06 AM on Tuesday, June 20, 2017
Well Labout party and indeed the labour council say they will support the most vulnerable in society, it seems to me that that statement is a vote catcher. Well Salford council your cover is well and truly blown. You should tell the truth the disabled, ,vulnerable people of Salford are losing out to well healed property companies it stinks. They go on all about the cuts and we are cash strapped when in truth we have plenty of money. But not for the services the people of this city needs. What's more they target the vulnerable small groups to make cuts. So stop telling lies. We have in the region of 60 councillors don't ash me why, it appears they are nodding dogs when it comes to voting. There's something seriously wrong here.

Robert Ward wrote
at 6:06:03 AM on Tuesday, June 20, 2017
This is a total scandal and it is time that the government investigate this,and in my opinion take direct control of this council.

well shafted wrote
at 6:05:53 AM on Tuesday, June 20, 2017
Pickles must send a financial investigation team to this shafted city

Mary Ferrer wrote
at 2:17:53 PM on Monday, June 19, 2017
Can't understand why the council build this white elephant in the first place. But they have,so where to from here. I have never seen any advertising for the building or the gym.No contact numbers. Don't think the council did any survey before they went ahead with the stadium. What will happen if the Reds change their name and move out of the city. I forgot to pay one month on my council tax 155. I got a letter saying I would be taken to court. 1.061million and no repayments made in how many YEARS. Something very wrong here. Close the Grange to save 300.000ish. This Labour run council should be brought to account. They have given themselves loan after loan to keep the stadium afloat. WE haven't got the money to do this,not when they take vital services away from the most need in the city

Please enter your comment below:
 
 
 
SLADS
Salford Live Events
Salford Star contact
Salford Star
Salford Star print
Deli Lama
advertisement
 
Contact us
phone: 07957 982960
Facebook       Twitter
 
 
Recent comments
article: SALFORD COUNCIL SET TO BORROW 25MILLION TO MAKE TOWER BLOCKS FIRE SAFE
We all know this must be put right,and as soon as possible.But surly the manufacturer and company that fitted the cladding are the... [more]
article: SALFORD COUNCIL SET TO BORROW 25MILLION TO MAKE TOWER BLOCKS FIRE SAFE
Hedley hooper your right. It's yet another case of voting on things they know nothing about. Thank you Salford Star for opening ... [more]
article: SALFORD COUNCIL SET TO BORROW 25MILLION TO MAKE TOWER BLOCKS FIRE SAFE
One name that doesn't seen to come up much in all this is Keepmoat, and I don't understand that. Surely a lot of the responsibilit... [more]
article: SALFORD COUNCIL SET TO BORROW 25MILLION TO MAKE TOWER BLOCKS FIRE SAFE
Will the star be attending the meeting and will it be filmed or allowed, people of the UK need to see these shameful people. The c... [more]
article: SALFORD COUNCIL SET TO BORROW 25MILLION TO MAKE TOWER BLOCKS FIRE SAFE
I wish my Landlord would take a leaf out of the Salford Councils book. I live in Arthur Millwood and apart from them sealing a few... [more]
 
 
 
 
 
Days
Hours
Minutes
Seconds
 
 
 

Donate

Help the Salford Star...

all donations welcome

 
 

More articles...

SALFORD BENEFIT ARMY TO TAKE ON DWP OVER UNFAIR DISABILITY ASSESSMENTS

Star date: 17th August 2017

VOLUNTEER ARMY TRAIN TO HELP DISABLED FIGHT UNFAIR ASSESSMENTS

A new army of volunteers has been trained this week to accompany people going to DWP disability assessments to ensure they are treated fairly and gets their rights to state help.

"I think it's very important that people are there to stand up for those who are not necessarily best able to defend themselves in a benefit system that is set up basically to catch people out; force them off benefits" explained Ben Clay, who was one of the volunteers at the training course organised by Salford Unemployed and Community Resource Centre.

Full details here...

SALFORD COUNCIL SET TO BORROW 25MILLION TO MAKE TOWER BLOCKS FIRE SAFE

Star date: 16th August 2017

25MILLION FOR NINE PENDLETON BLOCKS AS PUBLIC MEETING CALLED ON FIRE SAFETY

Salford City Council is set to borrow 25million in order to sort its nine Pendleton high rises, after they failed consecutive Government fire safety tests. Who ultimately pays for the work, a Council report states, is "likely to be the subject of dispute", although it believes that Pendleton Together is liable.

Meanwhile a public meeting for residents will take place next Tuesday, 22nd August at Salford Arts Theatre, with speakers from the Justice4Grenfell Campaign, Salford City UNISON and the Fire Brigades Union.

Full details here...

UNISON ACCUSES SALFORD COUNCIL OF LYING TO JUSTIFY SHUTTING DISABLED KIDS HOME

Star date: 15th August 2017

'INACCURACIES' AND 'LIES' IN COUNCIL ATTEMPT TO SHUT THE GRANGE AS STRIKE BALLOT LOOMS

Next week, Salford City Mayor, Paul Dennett, will make a decision on whether or not to shut The Grange, Salford's only residential care home for disabled children.

The Council report recommending the closure has been slated in new counter reports from both the families of children at The Grange and Salford UNISON, which accuses the Council of 'inaccuracies', including over unfilled places... "The so-called lack of demand for The Grange is a lie to justify a cut" it states. The report adds that UNISON members "are willing to consider industrial action in defence of their jobs".

Full details here...

NEW SALFORD COUNCIL STADIUM LOAN WILL TAKE TOTAL TO ALMOST 25MILLION

Star date: 14th August 2017

SALFORD COUNCIL TO HAND ANOTHER 632,000 LOAN TO AJ BELL STADIUM

This week, cash-strapped Salford City Council is set to agree another loan of 'up to' 632,500 for its City of Salford Community Stadium, branded the AJ Bell Stadium.

This will take the current total amount of Council loans for the Stadium - which made another huge loss last year and has net liabilities of over 7million - to almost 25million.

Full details here...

YOUNG SALFORD PEOPLE MAKE NUJ FILM ON REPORTING POVERTY

Star date: 13th August 2017

POVERTY REPORTING NEEDS THE WHOLE PICTURE

Young film makers from the Reporters' Academy in Salford have made a short film about reporting poverty, aimed at journalists who jump on the poverty porn bandwagon.

A variety of people are interviewed in the film about their experiences, urging journalists to have the whole picture on poverty before reporting crap.

Full details here...

 



written and produced by Salfordians for Salfordians
with attitude and love xxx