Salford City has been acquired by a new consortium led by David Beckham and Gary Neville, who intend to “invest significantly” in the club.
The new shareholders also include US-based businessman Declan Kelly and Lord Mervyn Davies, both of whom will act as co-chairmen of the League Two Side board.
Neville and Beckham were already co-owners at Salford along with their former class of ’92 Manchester United teammates Nicky Butt, Ryan Giggs, Paul Scholes and Phil Neville, but they will no longer be shareholders even if they remain in roles in the club.
Singaporean businessman Peter Lim had been a majority shareholder since the first acquisition in 2014 before Neville acquired his share last August.
Beckham said, “I grew up in Salford. I have such fond memories of my time to live there, and the place and its people played such an important role in my early life in football.
“Salford City is at the heart of his community. It has a rich history and I am very happy to be part of the next chapter.”
Salford says the acquisition has been “uniquely structured” through a member club consisting of nine shareholders, including Dream Sports Group (India’s leading sports technology company), Colin Ryan (founder, Clipper Street Capital), Frank Ryan (Global Co-Chair, Global Co-Ceo and America’s chairman, DLA Piper), Nick Woodhouse (Executive Vice President, Authentic marks) unbound).
“These shareholders have long experience working with many of the world’s largest companies and brands,” Salford said. “The membership group is specifically designed to include leaders drawn from different backgrounds across financial, legal, media, tech and entertainment sectors to maximize the influence and contributions they can have on the club that goes on.”
Neville added: “I am passionate about Salford City. This is a unique partnership with a wide range of minds and expertise held together by a love for football. Football comes first, but it is critical that we are running the club against sustainability for the next 4-5 years. I can’t wait for the next part of this trip.”
Salford won four campaigns in five seasons to reach EFL after the class of ’92’s acquisition, but their progress has stopped.
They finished a point outside the playoffs this season under the head coach Karl Robinson and will now start preparing for their seventh consecutive League Two campaign.