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4w ago

Beckham and Neville Finalize Salford City Takeover with $20M Investment Plan

The former Manchester United stars lead a new consortium aiming for Championship promotion within five years and appointing a new CEO to drive operations.

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FILE - David Beckham speaks to the media after leaving Westminster Palace where he paid respects to the late Queen Elizabeth II, at Westminster Hall, London, England, Friday, Sept. 16, 2022. (AP Photo/Markus Schreiber, File)
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Overview

  • David Beckham and Gary Neville have bought out their former Class of '92 teammates to lead a new ownership consortium at Salford City FC.
  • The new group includes Declan Kelly, Lord Mervyn Davies, and other investors, collectively raising $15–20 million for infrastructure and squad development.
  • Former shareholders Nicky Butt, Ryan Giggs, Paul Scholes, and Phil Neville have relinquished their stakes but will remain involved in advisory roles.
  • The consortium has set a five-year target to secure promotion to the Championship, with a longer-term vision of reaching the Premier League.
  • A chief executive is being recruited to oversee daily operations as part of a governance overhaul emphasizing sustainability and community engagement.