Salford Red Devils have announced their new community share offer scheme in a bid to place fans at the heart of the game. The move, named ‘Reds Rise Together’, allows individuals to purchase a share offer in the club’s holding company, now a community benefit society (CBS).
All shareholders are subsequently granted the right to stand for election to the CBS board, a feature that the club deemed ‘a meaningful addition, adding value to its communities’.
The club will become the first from the Northern Hemisphere to take the plunge into a fan-led model, hoping to establish an alternative to millionaire owners. ALSO READ: Home of Salford Red Devils AJ Bell Stadium is closer to being owned by city council As well as giving fans greater benefits, Salford have sought to entrench their place in Rugby League’s elite division by adhering to new proposals from the ‘Reimagining Rugby League Consultation Project’ which can see clubs earn their Super League place through off-pitch behaviours.
The criterion for a guaranteed top-flight place includes community performance and financial stability, two principles that Salford will hope they thrive on under a more inclusive ownership model.
Read more on manchestereveningnews.co.uk
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