A Singapore billionaire has purchased a 50% stake in Salford City FC this morning, pending FA approval.
Peter Lim, 61, who made his fortune as an investor and is the world’s 655th richest man according to Forbes with an estimated fortune of $2.5billion, has had a long held desire to own a football club.
Lim, who also owns stakes in McClaren Automotive, is also currently working on a move to buy Spanish club Valencia and has failed in a bid to buy Liverpool FC in the past.
Salford City’s current quintet of owners – ex Manchester United players Gary and Phil Neville, Nicky Butt, Ryan Giggs and Paul Scholes will now all jointly own 50% of the club following their takeover in the summer.
The current owners told the BBC: “Peter’s love of sport, above all football, is well documented.
“He has an incredible track record in business as well as youth and community engagement, especially at grassroots level.
“Peter’s experience and knowledge can help take the club to where we believe they can be.”
The billionaire backing will further enhance positivity surrounding the club, who are currently top of the Evostick Premier League Northern Division One after going unbeaten in seven matches this season.
The club finished just 12th last season but the involvement of the former ‘Class of ‘92’ members has seen a dramatic change in fortunes, with several new players arriving.
Salford’s current chairwoman, Karen Baird, said to the BBC: “The formal process of the takeover of the club has begun with the FA.
“It’s been a great start to the season – we are very excited about the future for the club and what can be achieved.”
The move still needs to be approved by the FA before it can formally go through.
Main image courtesy of MediaCorp via YouTube, with thanks.