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SALE SHARKS OFFER TO BUY SALFORD AJ BELL STADIUM ‘UNACCEPTABLE’
 

Star date: 24th August 2017

SALFORD COUNCIL TURNS DOWN SHARKS OFFER TO BUY LOSS MAKING STADIUM

Yesterday, at Sale Sharks media day, owner Simon Orange revealed that an offer has been made to Salford City Council and Peel Holdings, the joint owners of the loss making AJ Bell Stadium, to buy what many consider to be the Council's white elephant.

The offer, said Orange, "is above what it is worth", but this afternoon Salford Deputy Mayor, John Merry, told the Salford Star that it was "unacceptable".

Full details here...


Last week, Salford City Council granted another loan of £632,500 to its City of Salford Community Stadium (COSCOS), which it jointly owns with Peel Holdings.

The ground, now branded the AJ Bell Stadium, has continued to make huge losses, with the latest Council accounts showing a £1.459million loss last year, with net liabilities of £7.068million (see previous Salford Star article for full details – click here).

The latest loan takes the total outstanding amount owed to Salford City Council by the stadium company to almost £25million - £7.442million for 'operational funding', and £16.678million for the actual building of the stadium.

Yesterday, at Sale Sharks' media day, owner Simon Orange revealed that an offer has been made to Salford City Council and Peel Holdings to buy the stadium...

"We're in negotiations at the minute and, if we can't buy this stadium, then we're going to have to build our own because we have got to own and control our own destiny" Orange was reported as saying "We've made an offer but it's still early stages. I can't go into detail but the offer we've made we think is above what it's worth."

According to the latest COSCOS accounts, the 2015 cost of the stadium, including fixtures and fittings, was £20.07million but the 'operational asset' now has a 'net book value' of £5.86million. The 'investment properties', which the Star understands is the land around the stadium, is valued at £16.74million.

This afternoon, Salford Deputy Mayor, John Merry, confirmed to the Salford Star that an offer had been made by Sale Sharks for the stadium but that it was "unacceptable".

He added that a statement on the future of the Barton complex would be made shortly.


The Salford Star has asked Sale Sharks for a comment but as yet the club hasn't responded.


Main photo by Gareth Lyons


hedley hopper wrote
at 08:53:16 on 26 August 2017
Well done Mary F for saying it as it is! Is our "Doyen" of Fashion Councillor Merry a Remora who has sucked onto financial sharks rather that the Sale Sharks? It is time to cut losses and recoup what Salford Council can, and sell the White Elephant that is the AJ Bell Stadium (not Community Stadium) which the Great Panjandrum who overestimates his own abilities fails to see. Come on those Labour Councillors and fellow Labour supporters who only pay lipservice to the Great Panjandum....grow some balls and ditch him and his ignite the bonfire of his vanities!!!
 
wrote
at 11:50:30 on 25 August 2017
It looks as if Sale might well move on. Where does that leave Salford? In the doo-doo!
 
Mary ferrer wrote
at 18:27:54 on 24 August 2017
The stadium is bleeding the city dry.it's been open now 4/5 years and hasn't made a profit. In fact WE are keeping it a float.loans and interest come from the pot for main stream funding. Children's services,adult services,to name just 2.come on own up you all made a bloody big cock up and WE and our children will have to pay it all back.what happens if Salford Red devils move.it's on the cards.then you are all going to look like a right load off loosers. Don't like saying this."I told you so,right at the start"
 
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