Koukash Writes Off Salford Debt

Dr Marwan Koukash6
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27 November 2018

Former Salford Red Devils owner, Dr Marwan Koukash has confirmed he has written off all the outstanding debt owed to him by the club.

"I hope the new board will use this opportunity to attract fresh investment into the club," said Koukash.

In a statement, Salford, whose fundraising initiatives include a squad builder scheme in which fans can contribute towards the assembly of the playing squad, thanked Koukash for "this fantastic gesture".

"He has been a huge supporter of the club, both as a fan and as a financial benefactor, and this is something the club his hugely appreciative of," they added.

As an incentive to get the entire Salford community behod the club, Koukash had offered in May to write off the entire debut owed to him. The amount was not revealed, but the amount that Koukash loaned to the club on takeover in January 2014 was thought to be about £1.5m and it is likely that he covered losses in each season since.

The gesture is reported to be worth about £5m.

The Red Devils pointed out in May that Koukash has not asked for any payment since his departure last year, but the offer was only on condition of the club becoming self-sufficient over the next 18 months.

This week has made the write-off unconditional.

See also...

Koukash To Write Off Salford Debt As Incentive

Koukash To Hand Salford To Trust

 

 

 

 

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