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Article continues belowArticle continues belowArticle continues below<script type="application/json" data-placement="fcplayer-semantic">{"type":"fcplayer-semantic","data":{"embedCode":"//cdn.fcp.codes/embed-code-template/embed-code-template.js#SEMANTIC_5704afb8-c10b-4ba5-9cb4-d7fb6098ef90"}}</script><ul><li>Neville becomes the principal owner of Salford City</li><li>Peter Lim sold his stake to Man Utd legend</li><li>Class of 92 members acquired the club in 2014</li></ul>

Gary Neville completes his takeover! Man Utd legend becomes majority owner of Salford City after buying out Peter Lim

League Two

Salford City

Bromley

The fourth-tier English side officially confirmed the news of Singaporean businessman Lim's exit from the club on Friday as their <a href="https://www.salfordcityfc.co.uk/news/2024/august/02/gary-neville-acquires-peter-lim-interest-in-salford-city/" target="_blank">statement</a> read, "Salford City FC (“the club”) announces today that Gary Neville has acquired from Peter Lim his interest in the club. This simplifies the corporate structure and paves the way for a new strategic partner to take the club forward into the next phase of growth."

WHAT HAPPENED?

Neville, along with his colleagues - Paul Scholes, Nicky Butt, Ryan Giggs, David Beckham and his brother Phil - from Manchester United's famous <a href="https://www.goal.com/en/lists/david-beckham-gary-neville-investment-class-of-92-salford-city-ryan-reynolds-wrexham/blt75ade673f0023da4#cs3059b378f0a46411" target="_blank">Class of '92 team</a> acquired the club in 2014 as each of them owned 10 percent stake while Lim held the remaining shares. With Lim exiting, the ex-Red Devils skipper will now become 50 percent owner of The Ammies.

THE BIGGER PICTURE

The rest of the owners thanked Lim for his contribution to building Salford City as they said, "We cannot thank Peter enough for his support, friendship, belief and loyalty to us for over 10 years, not only in Salford City but in other projects that we have worked on together. Peter has been integral in helping to create a legacy at Salford City that we are now determined to build on."Club CEO Nicky Butt added, "Peter’s support has allowed us to become an established League Two club with a unique ownership. We are committed to the future growth of this club in the best interests of the supporters, stakeholders and the local community."We continue to explore options to potentially work with additional new strategic partners to assist us in achieving our ambitions for the club. We are as excited as ever about the new football season and remain focused on strengthening our playing squad and achieving future success on the field alongside the continued development of the football club."

WHAT HAS BEEN SAID

The League Two side will play their final pre-season friendly match against Rochdale on Saturday before starting the 2024/25 campaign against Port Vale on August 10.

WHAT NEXT FOR SALFORD CITY?

Gary Neville completes his takeover! Man Utd legend becomes majority owner of Salford City after buying out Peter Lim | Goal.com United Arab Emirates

Manchester United legend Gary Neville becomes the majority shareholder at League Two side Salford City as he buys out Peter Lim&apos;s share.