Salford council's 'landmark' rugby stadium deal delayed

manchestereveningnews.co.uk:

Salford council’s deal to buy the city’s rugby stadium has not been signed despite months of talks. The town hall confirmed its plan to buy the ground and surrounding land is not yet done, but said the deal is at an advanced stage with just the final details left to iron out.

Back in February, the town hall announced its plan to buy the stadium outright, which it co-owns with property developer Peel through ownership of the stadium company CosCos.

It is currently working to strike a deal with Peel to buy out the firm’s half of CosCos and secure overall control of the land. READ MORE: Greater Manchester to miss housing target by more than 23,000 homes, report says The decision to buy the stadium was described by the council as a 'landmark' moment for the city and its rugby heritage and the plan was approved by Salford mayor Paul Dennett and his cabinet team in September.

But the deal is not yet over the line and the speed of progress has left Salford Red Devils in limbo, having to ask for an advance payment of distribution money to plug a gap in its finances.