Salford Council becomes sole shareholder of community stadium

MCRJourno

Salford City Mayor Paul Dennett at the stadium. Credit: Salford City Council

Salford City Council has now completed its acquisition of Peel Land's 50% shareholding in the City of Salford Community Stadium (COSCOS) - making the council the sole shareholder.

CosCos was initially a joint 50:50 venture between the council and Peel however the council are now in control of the stadium, two training pitches, a surfaced car park with around 500 spaces, and a number of developable land assets with a footprint of 24.76 acres, adjacent to the stadium.

Salford City Mayor Paul Dennett shared that the decision was made following a democratic process as well as financial and legal due diligence with the deal costing £7.7million - including the assignment of debt and shares.

Dennett said: "This is great news for the city as it will safeguard jobs, ensure the continued community use of the facility and support the delivery of the council’s Rugby Strategy in 2025.

"It will enable the council to deliver its aims and aspirations by controlling future redevelopment of the area.

"The future will be grounded in new sports and leisure and rugby strategies, with links to activity, culture and health and wellbeing and fair access and opportunities. It also helps protect the Super League status of Salford Red Devils RLFC and ensure both the Red Devils and Sale Sharks will retain their position playing in Salford."

Plans are underway already with 6.02 acres under offer and 1.82 acres to be sold imminently in a bid to attract significant private investment.

Dennett added: "The deal brings to fruition the commitment to deliver the initial vision of a community stadium for the city and its people."