David Beckham and Gary Neville have finalised a takeover of Salford City FC as part of a new consortium group, with the rest of the Class of ’92 relinquishing their stakes.
Nicky Butt, Ryan Giggs, Paul Scholes and Phil Neville are no longer shareholders as part of the new group, which includes US-based businessman Declan Kelly and Lord Mervyn Davies who will both serve as new co-chairs of the club’s board.
But their former Manchester United stars will “continue to contribute” with roles in the club across technical, football, commercial, recruitment and the SCFC foundation.
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With “extensive experience” working with many of the world’s biggest companies and brands, nine shareholders will now make up the new consortium
They include India’s sports technology company Dream Sports Group; Colin Ryan, Founder of Clipper Street Capital; Frank Ryan, global co-chair and co-CEO at DLA Piper; Nick Woodhouse, executive vice chairman at Authentic Brands Group; and Shravin Mittal, founder of Unbound.
The acquisition includes a commitment by the new shareholders to invest significantly in the club, the team and its facilities.
“I am passionate about Salford City. This is a unique partnership with a diverse range of minds and expertise, held together by a love of football. Football will come first, however it’s critical that we drive the Club towards sustainability in the next 4-5 years. I can’t wait for the next part of this journey,” said Gay Neville, now co-owner of the club.
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Neville has build up a portfolio of businesses, including Hotel Football, Stock Exchange Hotel, Relentless Developments, Salford City FC, education disruptor UA92, and media production company Buzz 16.
David Beckham added: “I grew up in Salford… I have such fond memories of my time living there and the place and its people played such an important part in my early life in football. Salford City is at the heart of its community… it has a rich history and I am delighted to be a part of the next chapter.”
Declan Kelly and Mervyn Davies said in a joint statement: “We have been close friends and partners for more than a decade and we look forward to partnering with David, Gary, this phenomenal new ownership group, the Class of ’92 and everyone at SCFC to take this project to the next level and hopefully bring more success to Salford City’s wonderful fan base, players and everyone associated with the Club.”
