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Billionaire Joins 'Class Of '92'

Billionaire Peter Lim and the 50% bid for Salford City FC

Written by . Published on September 22nd 2014.


Billionaire Joins 'Class Of '92'
 

PETER LIM, the Singapore billionaire who very nearly bought Liverpool FC in 2010 for around £320m, will join Ryan Giggs, Paul Scholes, Gary Neville, Phil Neville and Nicky Butt as joint-owner of Salford City FC.

Lim is also expected to take over cash-strapped top-tier Spanish side Valencia, and is currently working to complete a $480 million deal to buy a controlling stake in the club.

The 'Class of '92' ex-Manchester United players each own 10% of the club, with Lim taking ownership of the other 50% if given Football Association approval.

Lim, 61, a lifelong United fan, is estimated to be worth around £1.5bn, making him Singapore's ninth richest man.

Class Of '92Class Of '92

Following the announcement, Giggs, Scholes, Butt and the Neville's released this statement:

“When we set upon this journey we always knew at some point we wanted external partners involved, people who would share our vision for Salford City FC.

"We have all known Peter for over ten years, his 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.

This will be fantastic for SCFC, Peter’s experience and knowledge is invaluable and can help take SCFC to where we believe they can be, it’s exciting times for the club."

Lim is also expected to take over cash-strapped top-tier Spanish side Valencia, and is currently working to complete a $480 million deal to buy a controlling stake in the club.

Salford City FC have made a flying start to the 2014/15 season, winning six out of their opening seven league games.

@salfordcityfc

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7 comments so far, continue the conversation, write a comment.

Poster BoySeptember 22nd 2014.

Hijack.

AnonymousSeptember 22nd 2014.

This should end well.

AnonymousSeptember 22nd 2014.

Surely there is a conflict of interest here for Ryan Giggs and Nicky Butt to be involved in a team now 50 % owned by Valencia football club,a rival of Manchester United,and by someone who might well have ambition to own Manchester United.You have to ask what is the long term reason this man is investing in Salford.

1 Response: Reply To This...
AnonymousSeptember 22nd 2014.

The Precinct? Ordsall? Pies?

AnonymousSeptember 22nd 2014.

Will Ryan Giggs be encouraging top players to join Man U his employers,or will he be telling them to join the club of his co-owner,Valencia?.

EvoSeptember 23rd 2014.

was this always the plan? the perception that the Class of '92 are bringing him on board goes down much better with the locals than him acquiring the club and then recruiting them as good PR. either way this isn't part of the dream envisioned when they took over

Salford RedSeptember 24th 2014.

Are they all plotting and planning to take over United at some point in the future? The money this guy has plus the money & knowledge of United the class of 92 have would make it possible. Even if that's not the plan, I like the fact these lads are investing time and money in the local community and trying to give something back to the community that helped them to be where they are now.

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