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

The fourth-tier English side officially confirmed the news of Singaporean businessman Lim's exit from the club on Friday as their statement 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."

Neville, along with his colleagues - Paul Scholes, Nicky Butt, Ryan Giggs, David Beckham and his brother Phil - from Manchester United's famous Class of '92 team 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 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."

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.