Manchester United's "Class of 92" have agreed to sell 50 percent of their non-league club Salford City to Singaporean businessman Peter Lim.
- Brewin: Van Gaal's work is far from done
- Patterson: United back to the drawing board
The 61-year-old, who attempted to buy Liverpool in 2010 and is set to take over Valencia, is going to be a partner of five former United teammates.
Ryan Giggs, Paul Scholes, Nicky Butt and Gary and Phil Neville will have 10 percent stakes in the Evo-Stik Division One North club, which they agreed to take over in March.
Lim's buy-in is subject to approval from the Football Association, but the quintet said he would be "invaluable" for the future of Salford, who play in English football's eighth tier.
The "Class of 92" said in a Salford club 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 10 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."
The "Class of 92" bought Salford with the intention of bringing through young talent and played against the current side in a fundraising friendly in August, when United assistant manager Giggs scored their only goal in a 5-1 defeat.