David Beckham and Gary Neville complete Salford City takeover | OneFootball

The League Two side are now being ran by the former Man U pair alongside a new consortium.

David Beckham and Gary Neville have completed a takeover of Salford City as other 'Class of '92' members yield their stakes in the club.

This is according to a recent update from The Athletic's David Ornstein, who broke the news via his X account on Thursday morning.

The two former Manchester United players have become the new majority owners of the League Two side, along with a new consortium made up of Declan Kelly, the founder of Consello - an advisory firm based in the US, Lord Mervyn Davies - chairman of the Lawn Tennis Association - plus five others (Frank Ryan, Shravin Mittal, Nick Woodhouse, Colin Ryan and Dream Sports Group).

Nicky Butt, Ryan Giggs, Phil Neville and Paul Scholes are no longer shareholders in the club but will reportedly still maintain roles within the Ammies' setup.

This comes off the back of former majority investor, Peter Lim, moving on from the club in 2024. Salford narrowly missed out on getting into this season's League Two play-offs due to a final day draw with already relegated Carlisle United.

David Beckham and Gary Neville complete Salford City takeover

The pair, who were already minority investors before reportedly completing this takeover, want to get Salford up to the Championship within five seasons and have raised $15-20 million (£11.3-15 million) in order to achieve that goal.

Each shareholder in the new structure will hold between a five and 10 per cent stake in the club, adding up to 80 per cent, leaving the final 20 for other new investors, per the report.

Beckham and Neville considered multiple models to re-shape the club's ownership structure, according to The Athletic, including a "multi-club" model with "a direct owner," but they moved in the direction that they have because the other models were said to not "present authentic opportunities."

Interviews are ongoing to find a chief executive to run the club's operations on a day-to-day basis. One job they may need to contend with over this summer is holding onto their manager, Karl Robinson, who, reportedly, is one of the names that Championship side Cardiff City are looking at to replace Omer Riza.

Beckham, who also owns Major League Soccer club Inter Miami, has previously expressed his commitment to the club and to Neville, who has been involved at Salford since 2014.

He has been inspired by the rise of Birmingham City and Wrexham, who have just been promoted to the Championship, thanks to their influential owner, and that's what the former Galactico wants for the League Two side.

We've heard this story before with Salford; it's time for them to prove they are serious

Soon after the Class of '92 gang got involved with the outer-Manchester-based outfit they experienced a meteoric rise up the English pyramid until they reached the football league in 2019.

Since then they have stagnated. They have only reached the play-offs once (2022/23) and were knocked out in the semi-finals by local rivals Stockport County and have narrowly missed out on the post-season on a number of occasions.

What Wrexham, in particular, have become is what Salford hoped to be, but they have never been able to quite get over the hump.