Rugby League - Salford nearing takeover completion

Salford City Reds are poised to announce the completion of the club's takeover by millionaire racehorse owner Dr Marwan Koukash.

PA Sport
Rugby League - Salford nearing takeover completion
.

View photo

Salford are set to get new owners

The St Helens-based businessman, who is a former Palestinian refugee, has been locked in negotiations for a fortnight but will become the Super League club's new owner and chairman in time for Friday night's opening game against Wigan.

It is thought the final touches are being applied to legal documents and paperwork and Salford have called a media conference for Thursday lunchtime "relating to the ownership of the Super League club".

Koukash, who has pledged to transform the fortunes of the ailing City Reds, is also expected to buy a stake in the Salford City Stadium which the club share with Aviva Premiership club Sale Sharks.

The £26million stadium at Barton is jointly owned by Salford Council and developers Peel Holdings but Koukash believes the City Reds need a stake if they are to become financially viable.

The club are due back in court in Manchester on Monday to face a winding-up petition brought by HM Inland Revenue and former players Vinnie Anderson and Luke Patten over unpaid bills.

View Comments (0)
Write for Yahoo Sport