Man United's Class of '92 takeover non-league club Salford City
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The Football Association have approved the acquisition of non-league club Salford City by a group of former Manchester United players and their business partner Peter Lim.
Ex-United quintet Nicky Butt, Ryan Giggs, Phil and Gary Neville, and Paul Scholes have acquired 50 percent stake in the club while Valencia owner Peter Lim attains other half.
Singapore-based self-made billionaire Lim is a lifelong United fan and is believed to enjoy a long-standing professional relationship with the former Red Devils players.
The 61-year-old, who has just completed his takeover of Spanish club Valencia, is estimated by Forbes to be worth £1.5 billion.
The takeover deal was agreed in September but the application process had been delayed while legal issues were resolved.
Salford are currently third in Division One North of the Northern Premier League, six points behind leaders Darlington 1883 with two games in hand.
Ex-United quintet Nicky Butt, Ryan Giggs, Phil and Gary Neville, and Paul Scholes have acquired 50 percent stake in the club while Valencia owner Peter Lim attains other half.
Singapore-based self-made billionaire Lim is a lifelong United fan and is believed to enjoy a long-standing professional relationship with the former Red Devils players.
The 61-year-old, who has just completed his takeover of Spanish club Valencia, is estimated by Forbes to be worth £1.5 billion.
The takeover deal was agreed in September but the application process had been delayed while legal issues were resolved.
Salford are currently third in Division One North of the Northern Premier League, six points behind leaders Darlington 1883 with two games in hand.
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