Tipperary's Declan Kelly joins with David Beckham and Gary Neville to purchase Salford City FC
Gordon Deegan
Irish businessman and Co Tipperary native Declan Kelly has joined Manchester United legends David Beckham and Gary Neville to purchase Salford City Football Club.
In the deal, Kelly, founder of advisory business, Consello, will co-chair the northern England based club with leading UK financier Lord Mervyn Davies.
The two, together with Beckham and Neville, are understood to have orchestrated the acquisition over the last number of months, assembling several leading investors.
Commenting on the acquisition, Mr Kelly said today that the new ownership structure brings the right mix to take Salford to the next level.
He said: “The group comprises some of the best in the world at what they do and has been put together for the sole purpose of driving the club forward. Utilizing the knowledge and skills of this group, our goal is to create a path to achieve new and sustainable success for SCFC both on and off the pitch.”
Kelly’s New York City headquartered Consello - which has offices in Ireland - will also be responsible for building out the club’s commercial operations in the UK and around the world, while drawing on the expertise of the broader investor group, made up of individuals with backgrounds in sports, entertainment, banking, law and technology.
Mr Kelly and Gary Neville have developed close ties over recent years, with the former Man United captain a Partner in Consello in both UK and Ireland.
Gary Neville said that the unique partnership with a diverse range of minds and expertise is held together by a love of football.
The Sky football pundit said: “Football will come first, however it’s critical that we drive the club towards sustainability in the next four to five years. I can’t wait for the next part of this journey.”
Beckham, meanwhile, spoke of the Salford area’s importance to him and his excitement about taking the club to the next level.
Beckham - who turned 50 on May 2nd - said: “I grew up in Salford….I have such fond memories of my time living there and the place and its people played such an important part in my early life in football. 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.”
The uniquely structured ‘members club’ also includes another Irish businessman and founder of private equity firm Clipper Street Capital, Colin Ryan, as well as Americas Chair of DLA Piper and Consello Advisor, Irish American Frank Ryan.
The move will see the new shareholder group invest significantly in the club, the team and its facilities are targeting promotion to the Championship over the next five years. The financial terms of the deal have not been disclosed.
However, it is believed that the collective have raised around $15m-20m to boost Salford’s sporting and infrastructural ambitions over the next five years.
Each member will hold a 5 per cent or 10 per cent stake, totalling at 80 per cent and the remaining 20 per cent has been earmarked for additional partners.
Gary Neville and David Beckham had previously owned the club in partnership with several other members of the famed Class of 92 including Phil Neville, Paul Scholes, Ryan Giggs and Nicky Butt, alongside businessman Peter Lim.
The new consortium’s investment in Salford City will build on the work undertaken over the last several years at the club, which transformed it from a semi-professional team in the eight-tier of English football to the fourth tier, including four promotions in five years and narrowly missing out on this year’s League 2 play-offs last weekend.
The fortunes of the club have also been the subject of a number of ‘fly on the wall’ documentaries for Sky television.