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!”