The club announced the former Manchester United stars were part of a consortium which also includes a US-based businessman, Declan Kelly, and Mervyn Davies, who was a banker before becoming a UK minister in the Labour government of Gordon Brown from 2009-10.

Salford, in Greater Manchester, is walking distance from United's Old Trafford ground, with Beckham saying Thursday on Instagram: "Salford played such an important role in my life growing up... it's where I bought my first house and where me and Victoria (his pop star wife Victoria Adams) lived."

The 50-year-old added: "I'm so proud to be part of a new ownership group alongside gneville2 (Gary Neville) as we begin the next chapter of Salford's journey.

"Football is at the heart of this community and I can't wait to see what the future holds for the Ammies."

Neville -- now a high-profile television football pundit, said earlier Thursday: "I am passionate about Salford City. This is a unique partnership with a diverse range of minds and expertise, held together by a love of football.

"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."

Salford were once owned by a larger group of United stars from the celebrated 'Class of 92' which, as well as including Beckham and Gary Neville, also featured Phil Neville, Paul Scholes, Ryan Giggs and Nicky Butt.

Salford rose through the non-League ranks since their investment began in 2014 before entering League Two, the lowest tier of the senior English football pyramid that peaks with the Premier League.

But the new ownership structure appears to reflect the need for additional finance at Salford, who finished eighth last season, just outside the play-off places, as they bid for promotion to League One.