Salford City’s high-profile owners – famously known as the 'Class of '92' – are reportedly close to ending their 11-year tenure with the League Two side, as talks with a mystery buyer near completion.
Former Manchester United legends Gary Neville, Ryan Giggs, Paul Scholes, Phil Neville, and Nicky Butt first took over the club in 2014, when Salford were competing in the Northern Premier League Division One North, the eighth tier of English football. Backed by Singaporean businessman Peter Lim, the group oversaw an impressive rise through the English football pyramid, reaching the EFL’s League Two by 2019.
Since
their takeover, the group has invested heavily in Salford City both on and off the pitch. Their journey has been chronicled in multiple series of the acclaimed documentary “Class of 92: Out of Their League.” In 2019, David Beckham joined his former teammates as a co-owner, further boosting the club's global profile.
Why the Class of '92 Could Be Selling Salford City
Despite their earlier successes, Salford’s recent stagnation in League Two has prompted the group to consider stepping away. According to football insider Alan Nixon, the ownership group is in advanced talks with prospective buyers, and a sale could be finalized soon.
The decision comes amid reports that investor Peter Lim is withdrawing from the project. Gary Neville took full control of Lim’s shares last August, but with mounting financial losses, further investment may no longer be viable.
The Financial Side: Class of '92’s Combined Wealth
Among the club’s most prominent backers:
- Gary Neville has built a vast business empire including Hotel Football, the Stock Exchange Hotel, property firm Zerum, and investment company Relentless. His net worth is estimated at £70 million.
- Ryan Giggs, currently Salford's Director of Football, co-owns GG Hospitality with Neville and has a net worth of approximately £50 million.
- David Beckham, one of the most recognizable football figures worldwide, boasts an estimated net worth of £455 million, thanks to decades of endorsement deals and sports business ventures.
Combined, the trio’s net worth stands at an impressive £575 million—a considerable sum for owners of a League Two side.
Mounting Losses and Performance Concerns
While their early years were marked by rapid success, Salford City’s financial and on-pitch performance have been less encouraging in recent seasons. Football finance expert Kieran Maguire revealed the club posted over £5.3 million in losses for the 2023/24 season, bringing total losses under the Class of '92's ownership to more than £28 million.
This unsustainable financial trajectory, combined with a lack of recent progress—just one play-off appearance in five League Two seasons—suggests the club may benefit from new leadership and direction.
What’s Next for Salford City?
As the Class of '92 prepares to exit, the future of Salford City could hinge on the ambitions of its new owners. With their EFL status secure but promotion aspirations unfulfilled, a fresh vision may be the catalyst needed to reignite progress.
