David Beckham and Gary Neville acquire shares from former Man United Class of '92 pals to take over Salford City in bid to 'do a Wrexham'
- David Beckham and Gary Neville have completed their takeover of Salford City
- The ex-Man United duo have bought out their former 'Class of 92' team-mates
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David Beckham and Gary Neville have spearheaded a new ownership group at Salford City – with the rest of their former Class of ’92 stars stepping away.
The former Manchester United stars had held a 60 per cent share in the League Two club along with Paul Scholes, Phil Neville, Nicky Butt and Ryan Giggs.
However, that quartet has now handed over their shares while Beckham and Neville have brought in new partners and investment of between £11-15million as they target Championship football within five years.
Butt is no longer at the club, although Scholes will continue to advise on player trading and Giggs will do likewise on football matters. Peter Lim, the Singaporean businessman whose financial muscle saw the Ammies power through non-league with four promotions in five years, left last year.
Beckham and Neville will be joined by Declan Kelly, founder of U.S.-based advisory firm Consello, and Lord Mervyn Davies, chairman of the Lawn Tennis Association.
Mail Sport understands that Davies, a former Labour minister, has been acting as a business mentor for Neville for around seven years. Beckham and Neville have been seeking investment since Lim’s departure.

David Beckham and Gary Neville have completed their takeover of Salford City

The Class of 92 bought Salford back in 2014 (Pictured: Sir Alex Ferguson, Ryan Giggs, Nicky Butt, David Beckham, Gary Neville, brother Phil Neville, Paul Scholes)

The club finished eighth in League Two after stagnating over recent seasons
They had interest from a number of parties but harboured concerns over handing over full control. The ability for others to make decision without their input, on areas such as ticket pricing, was viewed as potentially harmful.
A number of other investors are also involved. Each has taken a 5 or 10 per cent share, and decisions will be made on a democratic basis. No money has exchanged hands, with all of the previous owners handing over their shares.
While Beckham and Neville were keen to continue helping to fund a project they started in 2014, it is thought the others decided to step away. Phil Neville is currently manager of Portland Timbers in the MLS. His role and the fact he is based in America’s north-west made it difficult for him to provide any major input.
The club are currently seeking a chief executive, while Kelly and Davies will be co-chairs.
Taking to Instagram to share the news, Beckham wrote: 'Salford played such an important role in my life growing up... it's where I trained with United alongside my best mates every day, it's where I bought my first house and where me and Victoria lived.
'I'm so proud to be part of a new ownership group alongside my mate @gneville2 as we begin the next chapter of Salford's journey. Football is at the heart of this community and I can't wait to see what the future holds for the Ammies'.
Speaking to The Athletic, Beckham added: 'I will be over every big decision that's made and every little decision that's made.
'That's what my commitment is to Gary. It's what my commitment is to the club.'

Paul Scholes, Phil Neville, Nicky Butt and Ryan Giggs (L-R) have relinquished their shares

Salford City have been stuck League Two for five seasons since climbing four divisions

Beckham took to Instagram to share news of the takeover and pictures of himself with Neville

The United duo remained team-mates until Beckham's departure to Real Madrid in 2003
'We're definitely not doing it for a laugh and it's also not for the romantic side of things,' Beckham continued.
'Yes, we care about the club — but we're doing it to win. We want Salford to be successful and we have had success, but then we want it to go on to the next level.
'I always dream big so I'm always going to want us to get to the pinnacle of football and be in the Premier League. But there's a lot of hard work and a lot of investment to be done up until that point.
'The Championship is a league that we want to get in but it's step by step. We want success very quickly but these things take time.’
