Salford City Council is nearing the final stages of acquiring full ownership of Salford Community Stadium, home to the Salford Red Devils and Sale Sharks. Currently, the council holds a 50% stake in the stadium, but after a decision in February to take complete control, the buyout from its partner, Peel, is expected to be finalised following a council cabinet meeting on 3 September.

Salford city mayor, Paul Dennett, emphasised the importance of the move, stating, “We think it’s in our best interest to acquire the company so the city council is solely responsible for the stadium as well as the regeneration of that land around the stadium.” This acquisition, he explained, aligns with the council’s long-term goal of creating jobs and revitalising the area, a commitment made years ago.

The land surrounding the Stadium Way site is expected to attract substantial investment, potentially generating millions of pounds and creating hundreds of jobs in Salford. This development could be mentioned at upcoming property construction networking events in Manchester as an example of urban regeneration efforts.

The financial aspects of the buyout include the council taking on £29.7 million in debt, along with £1.7 million in share equity in CosCos. However, Mr Dennett clarified that this debt is already accounted for in the council’s financials and could be offset by the sale of development land around the stadium.

Despite the council’s optimism, Conservative group leader Robin Garrido has consistently opposed the plan. During a council meeting in July, Mr Garrido raised concerns about potential legal challenges and called for more thorough due diligence.

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