Super League: Talks expected to resume over rescue bid next week at Salford
Last Updated: 08/01/13 11:18am
Salford City Reds: granted an adjournment of a winding-up petition until February 4
Millionaire racehorse owner Marwan Koukash has been revealed as the mystery businessman involved in talks aimed at saving Salford City Reds.
Dr Koukash attended a meeting at a secret location with development company Peel Holdings and Salford Council, the joint landlords of the Salford City Stadium.
The City Reds' potential saviour is originally from Kuwait and made the majority of his fortune from worldwide property development; his main offices are less than 10 minutes away from Haydock Park racecourse.
However, it is believed Dr Koukash, who has lived in Liverpool for 30 years, is not likely to go it alone.
No official comment has yet been made but talks are expected to resume later in the week, once Peel - who are set to hold the key to any rescue plan - and the council have taken stock of their positions.
Salford say they need around £600,000 to survive the new season but a rescue plan collapsed in December when local councillors voted against a proposed £750,000 loan, which Peel were prepared to match.
The troubled Super League club managed to stave off the threat of liquidation at a court hearing in Manchester on Monday.
It was the prospect of new investment that persuaded a judge to grant an adjournment of a winding-up petition brought by former players Luke Patten and Vinnie Anderson and HM Revenue and Customs.
The hearing, at the Manchester District Registry of The High Court Of Justice, was put back until February 4, three days after the City Reds are due to play their opening match of the season against Wigan at home.
Head coach Phil Veivers will certainly be hoping for a swift resolution - he has only been able to make one new addition to his squad due to the club's bank accounts being frozen.
He was forced to cancel their opening pre-season friendly against Leigh over the festive period, though Salford managed to field a team, including former Great Britain international Martin Gleeson, to take on Swinton on Sunday, coming out on top by a 52-12 scoreline.