David Beckham & Gary Neville’s Salford City FC Promotion Potential Is Coming At Cost Of £2.5M

Salford City football club is something that dreams are made of. The Manchester based club saw made headlines in 2014 after being taken over by former Manchester United players Ryan GiggsGary NevillePhil NevillePaul Scholes and Nicky Butt, who each own 10% of the club, with businessman Peter Lim owning the rest and proceeding to do a complete overhaul of both club and players with the aim to take the club to full time professionals and compete in the big leagues of football.

6 years on and Salford won the National League North title in the 2017–18 campaign and then secured a place in the English Football League after winning the 2019 National League play-off final under the stewardship of Graham Alexander.

But it hasn’t come cheap.

Salford City say existing shareholders have invested almost £2.5m over the past six months to aid its push through the Football League. The League Two club, in whom David Beckham and Ryan Giggs both have a 10% stake, have enjoyed four promotions in five seasons alongside Singapore billionaire Peter Lim owns 40% of the club as well as fellow former Manchester United and England team-mates Gary and Phil Neville, Paul Scholes and Nicky Butt . In addition, the group have completely rebuilt their Moor Lane ground so it complies with EFL standards and in their most recent financial accounts to 30 June, 2018, Salford revealed they received £2,441,655 – understood to be interest-free loans – from their ownership.

Since then, Salford have published two ‘allotment of shares’ returns – money received from the creation of new shares. The first, in July, was for £2.1m worth of shares. This was followed by another, on 3 January this year, for a further £400,000. A club official said the money had come from existing shareholders and will be used as investment on the football side of the business and ground development.

Salford are currently nine points off the League Two play-offs and on Tuesday reached the last eight of the EFL Trophy.

idlesocietyco

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