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Salford City Reds may be saved from Winding-up petition

November 20 2012

Salford City Red could be saved from being wound up after the club confirmed on Tuesday 20 November 2012 that it is in the final stages of discussions about new investment. The club has been in talks with Salford City Council and Peel Holdings, the owners of their home; the Salford City Stadium.

In a statement the club said: “Would like to assure everyone concerned that we are doing everything we can to expedite the process and move forward to secure a progressive future for Salford City Reds.”

The Reds is subject to a winding up petition which was presented against it by sponsors and management consultants; Steuer Gregsson Limited. Since the presentation of the petition the parties have agreed an out of court settlement, however two formers players and HMRC have joined the petition as creditors which has kept the petition hanging over the club.

The hearing of the petition has been adjourned until 7 January 2013 and the club were crucially able to pay their wage bill for October amid speculation that it could go into administration.

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