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Last Updated: Wednesday, 1 December, 2004, 13:04 GMT
Abbey sale keeps Cambridge afloat
The Abbey Stadium
The Abbey Stadium has been sold to keep Cambridge afloat
Cambridge's immediate future looks safe after shareholders agreed to sell the Abbey Stadium to director John Howard's company Bideawhile for just over 1.9m.

As part of the deal, the U's get a minimum 50-year-leaseback at the Abbey at an annual rent of 200,000.

And despite United operating at a loss, Howard said: "I believe we can put this club on a sound financial footing.

"From the heart I am not here to see this company and this football club suffer," he told Cambridge's website.

Meanwhile, United have recently received planning permission for an IT education centre at the Abbey which could see them take an extra 80,000 per year.



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