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Cambridge United give update on ownership structure and plans to redevelop stadium

Cambridge United give an update this week on their ownership structure and their ambitious plans to redevelop their Cledara Abbey stadium.

The U’s co-owners Paul Barry and Mark Green have bought Adam Webb’s 10% stake in the club, saying they are more ambitious that ever before.

Cambridge, who currently sit 21st in League One with 10 points from 12 games, are also aiming to publish designs for a much needed redeveloped Abbey Stadium within the next two months. Have a read of what they said in the club statements below…

The club currently have an average attendance of 6,427 for their 7,937 capacity stadium for the 2024/25 season.

STADIUM REDEVELOPMENT UPDATE:

Cambridge United is pushing ahead with its plans to redevelop the Cledara Abbey Stadium…

The Club hopes to be able to publish designs by the end of the year. In the meantime, CEO Alex Tunbridge gives an update to fans and explains the different elements the Club is seeking to align.

Alex Tunbridge said, “Cambridge United is seeking to modernise for the long term as a Club and the stadium redevelopment is at the heart of that. We had hoped to set out plans in the summer, but the timetable has slipped to the end of the year.

“In the meantime, I wanted to update fans on the five interlocking critical areas we are trying to align so that the project can move forward with the best chance of success, the least disruption and the most positive impact for the long term.

“There have been a huge number of meetings over recent months involving people from right across the Club and the City. We are particularly grateful for the positive way the City Council are engaging with us on this project.”

SCOPE

What we build is obviously critical to everything else. The Cledara Abbey Stadium is one of the last of its kind in the professional game. It is steeped in history, heritage and memories and is why buying it back was so important to our owners. We need to increase capacity, improve facilities at all levels and in turn drive income to allow us to be more competitive on the pitch. That means striking the right balance between modernisation and protecting the existing aspects which make the Abbey what it is today.

As we have said, we intend to redevelop both the Habbin Stand and Newmarket Road End, with the ambition to achieve a capacity of just under 12,000. We have been looking at the right mix and location of seating and hospitality and now intend to redevelop the Habbin Stand with a 3,300 seated stand for home supporters, with improved hospitality and family facilities. The NRE will be replaced with a 3,500 terrace which will be able to be retro fitted with safe standing. In addition, there will be a new Club Shop, Offices and Museum.

As is well known, we are pleased there is now an agreement with the Supporters Club to build a new facility for them in front of their existing one, in turn allowing space for the expanded NRE with the pitch also moving south.

BUSINESS CASE

We need to fund the project over the short and medium term, at the same time ensuring Cambridge United can generate ongoing revenue that can be invested back into the playing side for decades to come. As with any significant investment, that means having a clear and deliverable business case and plan.

Since the turn of the year, we have been working with Bluerock Sports to carry out a variety of feasibility studies, exploring operating models, layouts and local needs. The results of this work has provided us with a strong understanding of the income levels which could be achieved by different design configurations. Creating spaces for internal and external community and commercial activities will be key to the future, and we have had some exploratory conversations with potential external partners to test the market.

FUNDING

Everyone at Cambridge United is hugely grateful to our owners who have funded the training ground and Stadium buy back, as well continuing to invest very significant sums on the playing side. Their ambition for the Club is stronger than ever, but a project of this scale requires significant capital investment. They are very focussed on how best to meet these financial challenges and ensuring that the project is as financially sustainable as possible. That is why what we build and how the space is best utilised is so critical.

DELIVERY TIMETABLE

Whilst the Cledara Abbey Stadium is in a strong geographical location in terms of its proximity to the city centre and a key reason why we have chosen to redevelop, as opposed to relocate, its tight footprint does create some delivery challenges. The order we do things will be key to ensure the most efficient delivery. This is not only the best way of keeping down costs, but we also want to ensure the minimum disruption for fans. There will be capacity constraints at times, and we obviously want to make sure the project spreads over as few seasons as possible, consistent with having a realistic construction timetable.

PLANNING

We will be consulting widely with our fans and the local community as we further develop the proposals. The time to produce the Planning Application will be roughly 6-8 months and will involve a wide variety of specialists, whom over the past few months we have been busy lining up.

Led by Wrenbridge Sport, who oversaw the training ground project, our assembled planning team will shortly commence a variety of surveys and studies required for the application. Transport, ecology, community benefit and local architectural design principles will be key alongside our engagement strategy with residents and stakeholders.

It remains our hope to submit the application in summer 2025.

These five areas are ‘the hardware’ of the project as it were, but critical to its success is ‘the software’ – the relationships that will make it happen. Over recent years, everyone at the Club has been working really hard to deepen and widen the contacts we have across the City – from the Councils through to the Universities and wider business community.

There is a real appreciation for the work that the football club does for the community through the great work of the Foundation. We have been grateful for the positive engagement on this project by so many and the enthusiasm on how it can play its part in the future growth of the City.

Finally, and most importantly, are our fans. We hope this is useful context for you on what we are trying to do, why it is taking a bit of time and also the opportunity that it can provide to push Cambridge United forward for decades to come.

PREVIOUS NEW STADIUM PLANS OVER THE YEARS

Artist's sketch of proposed new Cambridge United stadium

Artist's impression of Cambridge United's new stadium

Artist's impression of Cambridge United's new stadium

OWNERSHIP UPDATE:

Minority Owner Adam Webb has sold his 10% stake in Cambridge United to current co-owners Paul Barry and Mark Green…

Both Paul and Mark have bought half of this – an additional 5% of the Club each – meaning that they now own 75.01% and 24.99% of the Club shareholding respectively.

Majority Owner Paul Barry said, “On behalf of everyone connected with Cambridge United, I would like to place on record our sincere thanks to Adam for everything he has done for the Club over the last five years. Alongside Mark, he approached me with a proposal to take a minority ownership stake in Cambridge United at what was a critical moment during the pandemic.

“Their financial support has been not only important in helping us stabilise as a football club but also in allowing us to move forward on and off the pitch – most importantly in buying back the Cledara Abbey Stadium.

“Adam’s affection for Cambridge as a Club, community and city has been heartfelt and I know will continue. It goes without saying he will always be welcome back at the Club along with his family and friends.

“Earlier this year, Adam became the majority owner of St Johnstone FC so we have all agreed that this is the right moment for both parties for him to concentrate all his support and focus on this new project. I am very pleased that Mark has agreed to increase his stake.

“His passion for the Club and the project ahead are hugely additive to what we are collectively doing. We are both more ambitious than ever to help Cambridge United grow on and off the pitch and to look at how we embrace different and diverse perspectives on the journey.

“Together with the Board and staff, we will continue to modernise, develop and steward the Club on behalf of our fans in a financially sustainable way.

“On a personal note, Adam made public last month that he is currently undergoing treatment for cancer. I am sure everyone associated with Cambridge United sends him their very best wishes as he goes through this, and we all hope to see him at the Cledara Abbey again before too long.”

Adam Webb said, “Becoming a part of the Cambridge United family has been one of the great joys of my life. Cambridge United is a unique organisation and the City of Cambridge has become like a second home to me and my family.

“I look forward to many future visits to the Abbey to watch my beloved U’s. I know that the Club is in great hands with Paul, Mark, and the Board. Up the U’s!”

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