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Page last updated at 13:21 GMT, Friday, 26 February 2010

Cambridge United's Abbey Stadium set to be sold

The Trade Recruitment Stadium
Cambridge United have played their football at Abbey Stadium since 1932

Cambridge United chairman Paul Barry has welcomed the imminent sale of Abbey Stadium to Grosvenor Estates.

The U's currently lease the ground but Barry has confirmed that the new deal, which is still subject to terms, will not affect current arrangements.

Barry told the club website: "I and the board are excited at the potential of having a friendly landlord in the form of Grosvenor."

If the deal is completed as expected, Grosvenor will take over in late April.

Barry added: "They are a very responsible, collaborative and highly respected development company with a strong presence in Cambridgeshire and strong ties to local planning entities and local councils.

"I would like to assure fans that we will be meeting with out potential new landlord early next week to explore all possibilities so that we can secure not only the future of Cambridge United but also make sure that any major development would involve shareholders and stakeholders in the club.

"Once we have more news we will meet as a board and involve CFU so we can make this journey together."

Cambridge United began renting the ground from Bideawhile 445 Ltd after it was sold to the property developer in 2004 in a bid to avoid administration.

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