Salford Red Devils have surpassed a total of £50,000 within the first day following the launch of ‘Reds Rise Together’, the club’s community share offer scheme that will see the club transition into the first elite rugby league club to become a legally community owned entity.
Individuals have each invested between £100 and £10,000 thus far in order to receive a share in the club’s holding company – now a Community Benefit Society (CBS) – which entitles them to a vote at the club’s annual general meeting, as well as to stand for election to the CBS board.
Paul King, Salford Red Devils Managing Director said;
“Reaching this milestone within the first day of the campaign is a tremendous show of support from our community.”
“We are already 20% of the way there to our initial target of raising £250,000 – but we cannot rest on our laurels. If we can reach towards our upper targets, we can do so much for our club and community. I implore every one of our supporters to get involved. Give what you can, spread the message, and let’s add another proud chapter in the story of our club’s long history.”
What is the campaign?
‘Reds Rise Together’ is a community share offer which allows an individual to purchase a share in the club’s holding company – entitling them to voting rights and eligibility to stand for election to the CBS board amongst a host of other benefits. The overriding benefit of which is a collective one, meaning that together, we can take better control over the future of our club and continue to add meaningful value to our communities.
Why are we doing it?
In the first instance, we are doing this to become the northern hemisphere’s first elite rugby league club that is truly community-owned and one that gives every member a voice – making history in the process. There are also further key reasons:
1) Maintain as competitive a playing squad as possible that compete at the highest level.
2) To unite our growing community behind a common-cause.
3) Fulfil IMG criteria ensuring Category A status within the top-flight of Super League through high level Commercial and Marketing growth.
How can you get involved?
It’s simple: buy a share and/or share the message far and wide!
Let’s make history. Together. #RedsRiseTogether