Cambridge United: League One club complete deal to buy back Abbey Stadium

Cambridge United have played at Abbey Stadium since 1932

Cambridge United have completed a deal to buy back their Abbey Stadium ground after more than 18 years as tenants.

It follows further investment into the club by their owners of £4.5m, most of which was used to fund the purchase.

The stadium had been owned by Grosvenor Property UK since 2010.

The deal ends a plan announced by the club three months before the Covid-19 pandemic to move to a new 12,000-capacity greenbelt stadium on the east of the city.

US-based majority owner Paul Barry said that when the club sold the ground, they had to do so "just to survive".

He continued: "It was a low point followed by tireless work from countless people to keep the club afloat whilst at the same time trying to find a new home elsewhere in the city.

"But deep down we always knew that, if we had the choice and the chance, we would want to stay at the Abbey with all its charm, memories and imperfections."

Paul Barry became Cambridge's largest shareholder in 2008 and took full control in 2019

Barry announced agreement on a deal to buy the stadium, where the club have played since 1932, in March.

And the injection of cash by co-owners Mark Green and Adam Webb has helped bring it to a successful conclusion.

"We all know that the ground requires significant modernisation and improvement. We will be looking at potential ways forward over the coming months but just to manage expectations, it will clearly take time and money," Barry added.

"Self-evidently, we have had to commit significant investment for this deal alongside our other immediate priority of improving the training facilities at Clare College during the next close season. That said we are all ambitious to move forward as quickly as we can."

Having achieved Football League status ahead of the 1970-71 season, Cambridge climbed as high as the old First Division in 1992.

A decline followed resulting in the club dropping back into the Conference in 2005, and having to go into administration.

But they regained their league place nine years later and are currently seventh in League One, having finished 14th last season following promotion in 2020-21.

"Becoming part owners of Cambridge United has been a genuine privilege and joy," Green and Webb said in a statement.

"It is such a special unique place and we are so pleased to be able to play our part in helping Cambridge United own its home once again."

Cambridge reached round four of last season's FA Cup by knocking out Premier League side Newcastle

Abbey Stadium timeline

Dec 2004: Abbey Stadium sold to director John Howard for £1.92m in order to stave off administration.

April 2005: Cambridge United enter administration.

April 2010: Grosvenor Property UK buy Abbey Stadium from Howard for £3.5m and reduce the club's rent to a token level.

April 2012: Grosvenor unveil plans for a community stadium and sports village at Trumpington Meadows.

May 2013: Grosvenor plans fail to be included in Cambridge City's Council updated local plan.

January 2015: Plans for a new ground are shelved, as the club opt to remain at a redeveloped Abbey Stadium.

June 2017: Grosvenor withdraw plans for a redeveloped Abbey Stadium and combined residential development because of a lack of support.

Dec 2019: Cambridge reveal plans to move to a new 12,000-capacity greenbelt stadium to the east of the city.

Mar 2022: Paul Barry confirms deal to buy back Abbey Stadium from Grosvenor Property UK.

Sep 2022: Purchase completed following £4.5m of extra investment by club's co-owners.