SALFORD have been told the stadium deal that would further secure their future is mired in legal red tape.
The Red Devils now have hundreds of new owners after a community share offer saw people raise £363,000.
But the city’s mayor, Paul Dennett, has warned the city council’s buyout of what is now known as Salford Stadium will only go through once lawyers say it can.
The authority wants to take on co-owners Peel's share after turning down a bid that would have seen Sale RU and Salford City FC share it, with the rugby league side moving to Moor Lane.
It is believed a long-term lease, seeing extra funds kept by the current occupants, will be rubber stamped on completion.
But Dennett admitted that is out of his hands, saying: “Ultimately, we’re in the hands of the lawyers. It takes a lot longer than I’d like it to, put it that way.
“All of this is, in a sense, mired in due diligence, due process, lawyers and advisors as this is a joint venture.
“At the end of the day, we’ve got a joint owner. We’ve got to value the assets then make decisions around due diligence.
MOST READ IN RUGBY LEAGUE
David Fifita answers Wakefield SOS after working with troubled youngsters
Sam Tomkins reveals extent of injury issues as he heads towards retirement
Konrad Hurrell eyes St Helens stay after finding out what derby with Wigan means
Ryan Brierley reveals connection to several new Salford owners – his family
“We’ve got to assure ourselves that we’re buying an asset and that future costs regarding maintenance of its running won’t just fall on the city council. We’ve got to be careful it doesn’t create a financial problem.
“Peel, inevitably, will be looking to maximise their return on investments they’ve made into this part of the city.
Most read in Sport
Ex-England and Lions rugby star Paul Rendall dies aged 69 after battle with MND
Haaland looks worse for wear as he leaves home with Wag after Treble party
How Lewis Hamilton’s dates with Shakira may end 10-year Tom Cruise bromance
Jack Grealish wears Dolce & Gabbana pyjamas as Man City stars hit nightclub
“There’s a lot of work to do to actually land, hopefully, in the place I want to be, where the city council owns the stadium.
“And if we acquire it, the world’s our oyster but historically, we took the decision to build the stadium for Salford Red Devils.”
Source: Read Full Article