Cambridge put redevelopment plans on hold

Cambridge United's ground currently has a capacity of about 8,000

Cambridge United are looking for fresh investment after putting plans to redevelop the Cledara Abbey Stadium on hold.

Majority shareholder Paul Barry said the current "cost-benefit equation" meant it was not "feasible" to go ahead.

As a result, the board of the League Two club have decided to "put their foot on the ball" and "take stock", a statement on their website said.

And they are now looking for a new minority shareholder to inject money to "help drive the club forward".

"Finding the right person who shares our values and ambitions may take time, but we know there is huge interest in Cambridge," Barry's statement continued.

"It is a world city, a global brand, the birthplace of football, and a city with an incredible past and exciting future. We want to ensure Cambridge United is an even bigger part of it."

Cambridge bought the Abbey Stadium back in 2022 after 18 years as tenants and want to increase the capacity to 12,000 as well as build a new shop, museum and office accommodation.

US businessman Barry has a 75.01% stake in the club, with Mark Green owning the other 24.99%, having bought the 10% formerly belonging to Adam Webb in October 2024.

But Barry said: "Our collective losses and investment into infrastructure since Covid total over £20 million, and inflation and cost pressures in the lower leagues remain high as more funding comes into them from ambitious owners."

As a result, they have opted not to press on with redeveloping the ground, Cambridge's home since 1932.

"We have looked at multiple plans and options for potential redevelopment, alongside the detailed practicalities of delivery and, of course, the funding and future return on investment that would make any economic model viable," he added.

"Last week we concluded that, as things stand, the cost-benefit equation does not currently make it feasible.

"Put simply, the potential future upside of a partially improved Cledara Abbey would not justify the tens of millions of investment required, and it would end up being a significant cost and long-term financial burden to the club.

"On the latest model, for example, it would take over 20 years before there would be any return, and even then, the projections are necessarily uncertain."

Cambridge are 12th in League Two under boss Neil Harris ahead of Saturday's away game against Barrow.