Salford City have been acquired by a new ownership group led by former England internationals David Beckham and Gary Neville, who were already investors in the club, the League Two side announced on Thursday.
The ownership group also includes U.S.-based businessman Declan Kelly and Mervyn Davies, the chairman of Britain's Lawn Tennis Association. Salford said the acquisition includes a commitment to invest in the club, team and their facilities.
Beckham and Neville had invested in the club along with other former Manchester United teammates Nicky Butt, Ryan Giggs, Paul Scholes and Philip Neville.
The other members of the so-called 'Class of '92' are no longer shareholders but will have roles at the club.
"I am passionate about Salford City. This is a unique partnership with a diverse range of minds and expertise, held together by a love of football," Gary Neville said in a statement.
"Football will come first, however it's critical that we drive the club towards sustainability in the next 4-5 years. I can't wait for the next part of this journey."
Beckham, who grew up in Salford and also co-owns Major League Soccer side Inter Miami, said: "Salford City is at the heart of its community ... It has a rich history and I am delighted to be a part of the next chapter."
Salford were taken over by members of the 'Class of '92' in 2014 along with Peter Lim, who is no longer a shareholder after Gary Neville acquired his stake last year.
Since the takeover, the club have won four promotions in five years. They finished eighth in League Two this season, missing out on a playoff spot.
The club have nine shareholders who also include Dream Sports Group, Colin Ryan, Frank Ryan, Nick Woodhouse and Shravin Mittal.
