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Salford City have announced that they are exploring new investment opportunities for the club.
The League Two side, which is spearheaded by the 1992 group comprising former Manchester United academy graduates Gary Neville, Nicky Butt, Paul Scholes, Ryan Giggs, David Beckham and Phil Neville, are The company announced that it will pursue a “targeted partner”. Reinforce growth goals.
The initiative, 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 investments have already been received.
Despite the current owners’ commitment, Salford said the prospect of a new investment partner was an opportunity to grow the club’s sports, media and commercial departments.
The club’s CEO Butt said: “We support Salford City with the same dedication and confidence we have always had.” We have achieved something very special here, but there are huge opportunities in front of us and we want to ensure we have the right mix of investments and strategic partners to take advantage of those opportunities. .
“We had an original 10-year plan and with a strong foundation in place it was always our intention to consider options for the next stage. This includes the possibility of bringing on new partners to ensure we can best serve our community.”
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Salford added that it would not make any further announcements “unless the board approves a specific course of action.”
Tifosy Capital & Advisory, a sports advisory firm, is serving as financial advisor to the initiative.
Salford currently play in England’s fourth tier, having been promoted four times in nine years since the Class of 92 handover was completed in 2014. They also won the 2020 EFL Trophy by defeating Portsmouth on penalties after a 0-0 draw after extra time.
Since the takeover, the capacity of Salford’s ground Peninsula Stadium has increased to 5,000, with an average attendance of 3,000.
In October 2022, Gary Neville will step down as Salford’s chief executive and his former United teammate Butt will be appointed as his successor.
The 49-year-old previously held the role for eight years, juggling other projects including media work at Sky Sports and running Hotel Football.
Salford are currently 19th in League Two.
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(Naomi Baker/Getty Images)
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