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Last Updated: Wednesday, 20 July 2005, 09:26 GMT 10:26 UK
Cambridge to exit administration
Cash-strapped Cambridge United will be out of administration within days after reaching an agreement with creditors.

The future of the Conference side was in doubt, but Monday's agreement to pay creditors 19p in the pound has secured the U's short and medium-term future.

"The club and its fans have passed the first test with flying colours," finance director Nick Pomery told United's official website.

Caretaker boss Rob Newman is now hopeful of securing his own future.

United are also hopeful of making some new signings, now that the threat of administration has passed.

"It does leave me free to concentrate my efforts on getting people in on contracts and preparing for the start of the season," Newman told the Cambridge Evening News.




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