Giggs and Neville set to announce takeover of Salford FC with former team-mate Scholes lined up to be manager

The takeover of non-League outfit Salford FC is set to be confirmed by Gary Neville and Ryan Giggs on Thursday, with Paul Scholes in the frame to manage the first team.

Sportsmail revealed last month that Neville and Giggs – along with other members of Manchester United’s famous ‘Class of ‘92’ – were looking to make a financial commitment to the club in a bid to boost the recruitment of talented young footballers in the area.

Now it is understood that negotiations have reached a conclusion and Neville and Giggs hope to be in a position to confirm the exact details at 3pm on Thursday afternoon.

VIDEO Scroll down for Paul Scholes scoring from own half in Chaddy Park Legends match

Meeting: Gary Neville (left) and Ryan Giggs met at Media City, Manchester, to discuss the takeover of Salford FC

Picture: Giggs stop to pose a photo with a passer-by Late? Giggs then had to run to make the meeting with Neville and Nicky Butt

Watching brief: (from left) Nicky Butt, Paul Scholes, Gary Neville and Ryan Giggs at Salford City FC's Moor Lane

On the side: Butt gets stuck into a pie at the club Neville and Giggs are ready to buy Defeat: Salford (playing in orange) lost 2-0 to Curzon Ashton in front of the famous faces

SALFORD CITY FC

Nickname: The Ammies League: Evo-stick North League Premier Ground: Moor Lane (cap 625 seated) Manager: Barry Massey & Phil Power Chairman: Karen Baird Colours: Orange

Scholes will definitely be involved at some stage after seemingly turning his back on the David Moyes coaching regime at Old Trafford. Sources close to Neville and Giggs have not commented on suggestions their old team-mate will be the manager.

The scale of the former players’ investment has also not been confirmed yet. One possibility is that they will not plough their own money in to Salford – which may well be renamed Salford ’92 – but use their profile and connections to attract vast sponsorship deals.

Salford FC are currently playing in the Northern Premier League and are semi-professional.

Shake on it: Ryan Giggs (right) and Gary Neville have agreed deal to buy non-League Salford City FC

Fresh faced: (From left) Coach Eric Harrison with the Class of 92, Ryan Giggs, Nicky Butt, David Beckham, Gary Neville, Phil Neville, Paul Scholes and Terry Cooke

Older and wiser: The same group of players (minus Cooke), with Sir Alex Ferguson instead of Harrison

Giggs is set to wrap up his playing career at United at the end of this season but is already busying himself for when he's permanently off the pitch. The evergreen midfielder and Neville own a restaurant together, Cafe Football at Westfield Stratford City.

The pair are also behind Hotel Football, an accommodation and leisure complex opposite Old Trafford, for which construction has begun.

After performing at the highest level as players, both are now establishing themselves as coaches, with Giggs a player-coach at United and Neville an assistant to England boss Roy Hodgson in addition to his work as a Sky Sports pundit.

Both have a noted interest in youth development and supporting their local area - Neville was born in Bury and lives in the vicinity while Giggs lives in Worsley to the west of Manchester.

Earlier this month Neville and Giggs were joined by former team-mates Scholes and Nicky Butt as they watched Salford's game with Curzon Ashtons.



Business partners: Giggs and Neville already co-own the Cafe Football restaurant

Holding him back: Giggs (right) and Neville in training while team-mates at United