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Cambridge United up for sale

Blue Square Bet Premier club Cambridge United has been put up for sale by its board.

In a statement on the club’s official site the board blamed results on the pitch and falling attendances on a fall in income and that new investment was needed to take the club forward.

The board has encouraged an approach from supporters’ trust Cambridge Fans United with CFU chairman Dave Matthew-Jones insisting they would be interested in a takeover.

"I think this is probably going to be the preferred option for us," he said.

"However if somebody came in with lots of money then that could very much become the option.

"But what is important is the long term future of the football and club and that's it being run prudently and safely."

In the statement the club added:  “At present, our income cannot sustain the current level of expenditure on and off the field. The most important consideration, despite everyone's desire to be successful on the pitch, is survival and the long term future of the club.

The U's are currently in plans to develop a new stadium after Abbey Stadium, which the club sold to developers Bideawhile in 2004, was sold to Grosvenor Estates for £3.5m 10 months ago.

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