Cambridge took ownership of the Abbey Stadium in 2022 after leasing it for 18 years, and they had plans to boost its capacity to 12,000 along with adding a new shop, museum, and office space.
American businessman Barry holds a 75.01% share in the club, while Mark Green owns the remaining 24.99%, having purchased an extra 10% from Adam Webb back in October 2024.
However, Barry explained: “Our collective losses and investment into infrastructure since Covid total over £20 million, and inflation and cost pressures in the lower leagues remain high as more funding comes into them from ambitious owners.”
Because of this, they’ve decided not to move forward with redeveloping their home ground, which has been their base since 1932.
“We have looked at multiple plans and options for potential redevelopment, alongside the detailed practicalities of delivery and, of course, the funding and future return on investment that would make any economic model viable,” he added.
“Last week we concluded that, as things stand, the cost-benefit equation does not currently make it feasible.
“Put simply, the potential future upside of a partially improved Cledara Abbey would not justify the tens of millions of investment required, and it would end up being a significant cost and long-term financial burden to the club.
“On the latest model, for example, it would take over 20 years before there would be any return, and even then, the projections are necessarily uncertain.”
Currently sitting 12th in League Two under manager Neil Harris, Cambridge face Barrow away this Saturday.
