The Football Association has been fined for betting while he’s the co-owner of Salford City, now in the Football League Two.
Former English Premier League footballer, Paul Scholes, has been fined £8,000 for breaching rules on betting.
The Salford City co-owner received the punishment from the Football Association, after placing 140 bets on football matches between August 2015 and January 2019.
“I accept last week’s ruling. I would like to apologize and I understand and fully accept the fine imposed by the FA,” Scholes wrote on a statement published by The Independent.
“It was a genuine mistake and was not done with any deliberate intention to flout the rules.
“I wrongly believed that as long as there was no personal connection between me and any of the matches that I bet upon then there would be no issue,” he added.
“However I understand now that this is not the case and I should have taken steps to verify this at the time.”
Scholes took over the team in 2014, together with other former Manchester United players: Ryan Giggs, Gary Neville, Phil Neville, and Nicky Butt.