April 22, 2024
Investments

Class of ‘92-owned Salford City ‘exploring’ new investment opportunities


Salford City have announced that they are exploring new investment opportunities in the club.

The League Two side, who are spearheaded by the Class of 92 — comprising of former Manchester United academy graduates Gary Neville, Nicky Butt, Paul Scholes, Ryan Giggs, David Beckham, and Phil Neville — has announced its pursuit of “strategic partners” to bolster their growth objectives.

The initiative, which will be led by Salford’s owners, aims to assess potential partners who can contribute to the club’s expansion plans. Initial expressions of interest in equity investment have already been received.

Despite the current ownership’s commitment, Salford say the prospect of new investment partners presents an opportunity to grow the club’s sporting, media, and commercial departments.

Butt, the club’s chief executive, said: “We are backing Salford City with as much commitment and confidence as ever. We have achieved very special things here but there are major opportunities in front of us and we want to make sure we have the right mix of investment and strategic partners to take advantage of those opportunities.

“We had an original 10-year plan and with strong foundations now in place, it was always the intention to explore options for the next phase. That includes potentially bringing in new partners to help us grow the club and best serve the fans and community.”

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Salford added that they do not intend to make any further announcements “unless the board approves a specific course of action”.

Tifosy Capital & Advisory, a sports advisory firm, are serving as the financial advisor for the endeavour.

Salford now play in England’s fourth tier following four promotions in nine years since the Class of 92 takeover was completed in 2014. They also won the 2020 EFL Trophy after defeating Portsmouth on penalties following a 0-0 draw after extra time.

Since the takeover, Salford’s ground — the Peninsula Stadium — has had its capacity increased to 5,000, with average attendances at 3,000.

In October 2022, Gary Neville stepped down from his role as Salford’s chief executive, with his former United team-mate Butt named as his successor.

The 49-year-old had previously held the role for eight years while also juggling his time with other projects such as his media work with Sky Sports and having a hands-on role in the running of Hotel Football.

Salford are currently 19th in League Two.

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(Naomi Baker/Getty Images)





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