League Two side Salford City FC is on the brink of a new chapter as reports suggest that the club’s ‘Class of ‘92‘ owners are closing in on a deal to sell the club.
After the Class of ‘92 – a group of former Manchester United players – took over in 2014, the club got off to a fairytale start. Salford City climbed from the eighth tier of English football to the fourth, gaining promotion four times in the space of five years.
However, recent seasons have seen progress stall, as the Ammies have struggled to reach League One despite more than five years of trying.
According to a report from Alan Nixon, Salford’s owners have been in contact with potential buyers in recent days.
One major reason for this potential sale is the exit of Peter Lim, the Singaporean billionaire who has been a key figure in Salford City’s ownership group. Gary Neville, part of the Class of 92, acquired Lim’s shares last August in preparation for his departure at the end of this season.
It is believed that without Lim’s investment, the Class of ‘92 would be unable to provide the funds to take the club any further. The financial strain has become increasingly apparent, with its latest financial results published last month.
Salford reported a loss of over £5.3m for the 2023/24 accounts, adding to the growing trend of financial deficits seen since the Class of 92 took ownership in 2014. In total, Salford has accumulated losses exceeding £28m during this period.
While new owners may provide the investment and direction to finish what the Class of ’92 started, the sale of a club has become a nerve-wrecking ordeal, particularly in the lower levels of English football.
Salford City embraced its current owners with pride, benefiting from the fame that comes with them, especially after David Beckham joined his former teammates in 2019.
Celebrity-owned clubs have become a familiar sight in the lower tiers of English football, with the financial backing and commercial influence of their owners driving meteoric rises, as was the case with Salford before it hit a roadblock.
Since Salford’s rapid ascent, other high-profile figures have also taken ownership of clubs, such as Wrexham, showing that the commercial power of celebrity-backed teams cannot be underestimated. However, Salford may lose some of this pull depending on who takes over in the future.
