Salford City: Class of 92-owned League Two club looking for further investment
- Published
Salford City are in their fifth season as an EFL club
Class of 92-owned League Two side Salford City is looking to attract outside investment to help fund its ambition to become a Championship club.
Less than a week after Manchester United's search for "strategic alternatives" ended with Sir Jim Ratcliffe taking a 27.7% stake, nearby club Salford - part-owned by legendary United players David Beckham, Ryan Giggs, Paul Scholes, Nicky Butt and Gary and Phil Neville - says it has already received "some interest" in taking an equity investment.
In a decade since the Class of 92 stars got involved, along with businessman Peter Lim, Salford have risen from the Northern Premier League First Division to the English Football League, with average attendances rising from just 140 to about 2,500.
The Moor Lane ground has been completely redeveloped, although plans to move into the 12,000-capacity AJ Bell Stadium collapsed in December 2022 when Salford City Council pulled out of the deal.
Singaporean Lim - owner of Spanish side Valencia - owns 40% of the club, with the remaining 60% being held by the former Manchester United players.
Salford are 19th in League Two and lost 5-1 to league leaders Mansfield on Saturday, a further setback in a difficult season that at one point had them battling to avoid dropping into the relegation places.
Karl Robinson was appointed new head coach on 5 January following the dismissal of Neil Wood the previous month.
Salford's ownership say they remain "fully committed to the club but are open to the possibility of the right new partner investing alongside the group", for what are described as ambitious growth targets.
It is understood the initial plan to eventually reach the Championship remains in place.
Butt, who is now Salford's chief executive, said: "We are backing Salford City with as much commitment and confidence as ever.
"We have achieved very special things here but there are major opportunities in front of us and we want to make sure we have the right mix of investment and strategic partners to take advantage of those opportunities.
"We had an original 10-year plan and with strong foundations now in place, it was always the intention to explore options for the next phase. That includes potentially bringing in new partners to help us grow the club and best serve the fans and community."