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SBD Global/December 12, 2012/Franchises

Salford Council Bosses Reject $1.2M Rescue Package For Salford City Reds

Town hall bosses have rejected a £750,000 ($1.2M) rescue package for English Rugby League club Salford City Reds, according to Jennifer Williams of the MANCHESTER EVENING NEWS. Salford council bosses -- together with Peel Holdings -- had planned to "throw a financial lifeline to the ailing club in order to save it from administration." But a six-hour meeting of the city's mayoral team Tuesday morning "threw out the proposal." Councilors were afraid that lending the club so much would be "too risky in a time of financial hardship for the authority." Mayor Ian Stewart, who did not take part in the vote, said councilors had taken the decision with a "heavy heart." Stewart said, "Times are tough and in many ways, the Reds are yet another victim of the recession" (MANCHESTER EVENING NEWS, 12/11).
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