Manchester United’s class of 92 stars have suffered an £8.5m loss to Salford City over the past two years
REVEALED: Manchester United class of 92 stars have lost £8.5m to Salford City over the past two years with David Beckham, Gary Neville and co-owners hit hard by Covid football lockdown
- Salford City is co-owned by Manchester United legends David Beckham, Ryan Giggs, Paul Scholes, Gary and Phil Neville and Nicky Butt
- The club earned just £216,420 from matchday sales last year
- And they have been hit hard by the pandemic, resulting in a combined loss of £8.5m
- The loss is entirely attributable to the owners of the parent company – Project 92
Manchester United’s golden generation suffered an £8.5million loss with Salford City due to the pandemic – despite being promoted.
David Beckham, Ryan Giggs, Paul Scholes, Gary Neville, Phil Neville and Nicky Butt bought the non-league side in 2014 when they were 11th in the Evo-stik Northern Premier League Division One North.
Less than 15 minutes’ drive from Old Trafford, United’s famous starlets have since coached the side to ninth place in Division Two.
David Beckham is among former Manchester United legends who are co-owners of Salford City
(LR) Phil Neville, Nicky Butt, Ryan Giggs, Gary Neville and Paul Scholes are all involved
But the Ammies, who play at the Peninsula Stadium, lost nearly £4.8million in 2021.
And they had suffered a previous loss of £3.7m the previous season.
The team’s strategy report for last season, signed by Gary Neville, said: “With the previous season being cut short due to challenges brought on by the global pandemic, this resulted in a significant loss of revenue opportunities.”
“There was a glimmer of hope that a limited number of fans would be allowed to attend games from December 2020.
“However, after such a game at Barrow, events turned out that this would no longer be the case and the rest of the season was played behind closed doors.”
Fans had the option of purchasing streaming codes to watch the matches, but usage was limited.
This is despite Salford being promoted to the English Football League for the first time in 2018-19.
Salford followed an upward trajectory and exited the National League
Salford are ninth in League Two and comfortably mid-table at the moment
But they have yet to see enjoying a full, uninterrupted season. They lost £4,824,526 in 2021, with a further £3,768,024 lost the previous year. Salford City earned just £216,420 from matchday sales in 2021.
The number of staff at the club has fallen by nine in a year since 2020, from 122, or more than seven per cent of its total workforce.
The loss is entirely attributable to the owners of the parent company – Project 92. The company, named after the group called the Class of ’92, has the six former players as directors alongside Singaporean Lay Hoon Chan, who also runs the Old Trafford. Fan Club.
Salford City said: “The Club remains committed to its goal of seeking promotion, supported primarily by the resources of our shareholders and trustees.”
As of June 30, 2021, it still had profit and loss reserves of over £15m.
Last season the team also saw two new managers, with Paul Scholes even stepping in to act as a caretaker after Graham Alexander and assistant Chris Lucketti stepped down in October 2020.
Neville and Beckham (centre) were at Wembley when the club were promoted to League Two
Salford won their first piece of EFL silverware with victory over former Premier League side Portsmouth in the Papa John Trophy final in March 2021.
They also received coverage of their second Carabao Cup game against Everton and their Ligue 2 derby against Bolton Wanderers.
The club offers opportunities for Football Academy scholarship holders and has worked to attract young players on loan from top teams to give them experience.
They are also in talks with Manchester United to access some of their state-of-the-art training ground facilities.
The women’s team, the Salford City Lionesses, are seeking promotion to the domestic game.