The acquisition of Salford City Football Club, partly-owned by former Manchester United stars Gary and Phil Neville, Ryan Giggs, Paul Scholes and Nicky Butt, has been formally approved by the Football Association and the Northern Premier League.
Back in March the ex-Red Devils quintet agreed to take over the Evo-Stik Division One North club and in September Singaporean businessman Peter Lim - owner of Valencia - took a 50% share in the venture.
The final paperwork on their deal has now been completed after approval from the governing body and league. The management of the club on a day-to-day basis, as announced back in March, will remain the same.
Non-league football team Salford City are set to be bought by five of Manchester United's most famous sons.
Messrs Giggs, Scholes, Butt, Neville and Neville have played in some of the world's grandest stadiums in their illustrious careers, but their prospective new club operates on a different level:
- Founded in 1940 as Salford
- Play at Moor Lane - capacity 1,400
- Currently 11th in the Evo-Stick Northern Premier League Division One North - the eight tier of English football
- Nicknamed the Ammies
- No professional players
- Play in orange
Gary Neville said on Twitter that he and his fellow investors had no plans to change the name, ground or management of Salford City FC, which he and four former Manchester United team-mates have agreed to buy.
There had earlier been rumours in some media that Paul Scholes would be appointed as the club's manager.
Former Manchester United midfielders Paul Scholes and Nicky Butt have teamed up with three former team-mates in a bid to buy Salford City FC, who currently play in the eighth tier of English football.
Scholes said: "We know it will be tough but we will be committed to this from the start and have some very exciting plans going forward."
Butt added: "Moor Lane's sporting heritage dates back 320 years, the oldest of it's type in the Manchester area and this should be safeguarded so it becomes a lasting legacy for future generations."
Gary and Phil Neville said they were "excited" about a deal to buy Northern Premier League side Salford City.
Former England right-back Gary said: "I had my first trial for Manchester United in Salford at age 11 and I will never forget how important that was to me.
"Salford City FC to me represents those early years, the commitment, hunger, enthusiasm, desire and spirit of football and I am very excited about this venture."
Younger brother Phil added: "It is important to safeguard the hard work that is done in the lower leagues and it is going to be exciting to be able to feed our experience into the young players."
Manchester United midfielder Ryan Giggs has hailed his plan to buy his hometown club Salford City FC with four former team-mates.
"Everyone knows how important Salford is to me, so this is an exciting acquisition that is right at the heart of what we all believe in," said Giggs, who lived in Salford after leaving Wales aged six.
"We want to engage the football community, use our football experience and knowledge to aspire and nurture young talent and being able to do that in Salford makes it even more exciting," he added.
Famed Manchester United youth products Gary Neville, Phil Neville, Ryan Giggs, Paul Scholes and Nicky Butt have exchanged on a deal to acquire Salford City Football Club, the non-league club has confirmed.
The deal will complete this summer, pending FA approval.
Salford City football fans have taken to Twitter to give the thumbs-up to a deal that will see five famed Manchester United youth products buy the club.
Gary Neville, Phil Neville, Ryan Giggs, Paul Scholes and Nicky Butt are part of the Man Utd 'Class of 92', a reference to the club's FA Youth Cup win of that year.
David Beckham is the sixth member of the group, who all went on to have hugely successful careers in United's first team.
Gary Neville and Ryan Giggs are said to have completed a deal to buy Salford City FC.
Here are the Manchester United legends watching the non-league team in action recently, alongside former Red Devils team-mates Nicky Butt and Paul Scholes.