Cambridge United: Richard Money signs new deal and changes roles

Money will now stay at the Abbey Stadium until at least the summer of 2018

Richard Money has signed a new three-year contract with Cambridge United and has been given the new title of football manager by the club.

Money, 59, was formerly the U's head coach and will remain in charge of the first team, but will now also be responsible for player recruitment.

Signing players had been the job of chief executive Jez George in his previous role as director of football.

Ex-Colchester manager Joe Dunne will replace Alan Neilson as assistant boss.

Having made over 150 appearances for Colchester, Dunne became a part of their managerial set-up immediately after his retirement in 2003.

The former defender then took caretaker charge following Paul Lambert's resignation in 2009.

Having resumed assistant duties when Aidy Boothroyd was appointed manager, Dunne became the boss in 2012 but resigned in September 2014, after a four-match winless start to the season.

Former Scunthorpe, Walsall and Luton boss Money joined the U's in October 2012 and guided the club into the Football League via the Conference play-offs last season in his first full campaign in charge.

"We believe these appointments and Richard's extended responsibilities, will genuinely strengthen the football department in the years to come," George said.

"Richard has an excellent track record in building a team, as demonstrated here two years ago, and we now embark on that process again satisfied that we have the right structures in place to be successful moving forward."

Cambridge, who took Manchester United to a replay in the fourth round of this season's FA Cup, finished 19th in League Two, 10 points clear of the relegation zone.

Meanwhile, after the club made a number of players available for transfer this summer, midfielder Bobby-Joe Taylor announced on Twitter that he has not signed a new contract.