AIG has become the largest shareholder in Salford City FC after the Gary Neville and David Beckham co-owned club sold a stake to the finance and insurance giant.
The League Two club has sold a stake to the American firm in a deal that will see AIG become a strategic partner as well as largest shareholder.
The two parties have also agreed a multi-year commercial partnership running through until 2030, with AIG having once been the front-of-shirt sponsor of Beckham’s former club Manchester United.
Salford sell stake
“What AIG is doing with this club means so much,” Neville said on social media. “Giving us the platform to keep raising standards and build something that has real value to our players, staff and to our loyal supporters.
“On behalf of the club I would like to thank Peter Zaffino [AIG chief] for his continued commitment to Salford City FC. A few weeks ago I went to the US to meet Peter personally, and it was clear how much this meant to him and how invested he was in what we’re building at Salford City.
“The opportunity to tap into AIG’s intelligence, innovation and leadership is extraordinary, and we’re looking forward to working together to take Salford City on a great journey.”
Salford City, currently sixth in the fourth tier of the English football pyramid, saw the termination of Neville’s brother Phil, as well as Ryan Giggs, Nicky Butt and Beckham, as directors of the club in October. Beckham is among those who have remained co-owners.
While the firm Project 92, listed on Companies House as the sole organisation with significant control in the club, saw Irish-American businessman Declan Kelly and former Jack Wills chairman Lord Mervyn Davies replace Phil Neville and Beckham as directors.
Committed partner
Zaffino said: “Salford City FC’s ownership group, led by Sir David Beckham, Gary Neville, Declan Kelly, and Lord Mervyn Davies, has strategically positioned the Club for tremendous success on and off the field, and AIG is very proud to be a committed partner with an ownership stake and long-term commercial agreement.
“Salford City FC embodies the values AIG stands for such as setting the standard, winning together and doing what’s right to support our communities.”
It follows investment in fellow football passion project Wrexham AFC – owned by Rob Mac and Ryan Reynolds – from Apollo Global Management.