BY JOHN DAVIDSON
Salford Red Devils have published their financial accounts for 2024 showing huge increases in their net liabilities and creditors.
Salford City Reds (2013) Limited’s financial statements for the year ended 30 November 2024 have been published on Companies House today.
They reveal that the club continues to face significant net liabilities, mainly driven by high short and long-term debts, despite an increase in tangible assets and turnover.
The accounts show that Salford’s net liabilities have increased to £5,330,672 in 2024, up from £3,956,031 in 2023, primarily due to substantial bank loans and payables.
The club’s creditor amounts due within one year have jumped to £2,211,971, up from £1,734,050.
While its long-term creditors have shot up to £3,649,682, a major increase from £2,495,377.
Salford’s fixed assets have increased markedly to £241,138 in 2024, while its current assets sit at £289,843.
The average headcount at the Red Devils has dropped from 64 to 57.
The club has been experiencing significant financial issues for almost the past year.
Most of Salford’s first-team squad has departed and they sit on the bottom of Super League.
The club faces a winding up order in court, over an unpaid tax bill, next week.