The English Football League (EFL) League Two team Cambridge United F.C. have shelved plans to redevelop their home ground – the Abbey Stadium in Cambridge, England (UK) – after deeming that the “cost-benefit equation does not currently make it feasible” to proceed with the project.
‘cambridge-news.co.uk’ stated that ‘The U’s’ had stated their intention to rebuild the Newmarket Road End terrace and Habbin Stand to increase the ground’s capacity to around 12,000. They have decided not to move forward with plans after considering the finances involved.
Preston (UK)-based the English Football League (EFL) is a league of professional football clubs from England and Wales. Founded in 1888 as the Football League it is the oldest football league in the world and was the top-level football league in England from its foundation until 1992 when the top 22 clubs split from it to form the Premier League, the highest level of the English football league system. The Football League was rebranded as the ‘English Football League’ (EFL) starting with the 2016-2017 seasons.
The Cambridge United Football Club is a professional association football club based in the City of Cambridge, England (UK). They currently compete in EFL League Two, the fourth tier of the English football league system.
The Abbey Stadium, currently known as the Cledara Abbey Stadium for sponsorship reasons, is a football stadium in Cambridge, England. It has been the home ground of the Cambridge United since 1932 and currently has a maximum capacity of 7,937 spectators.
‘cambridge-news.co.uk’ further stated that the club bought back the Abbey in 2022 after spending almost 18 years as tenants and paved the way for redevelopment upon reaching a land deal agreement with the supporters club the following year.
However, ‘The U’s’ Majority Owner Paul Barry has confirmed that the club are no longer proceeding with their plans to upgrade the stadium, at least temporarily.
Barry said in a statement on behalf of the owners and the Board, “As you all know, three years ago we bought the Cledara Abbey Stadium back. It was arguably the most important development for the club this century as it placed our future squarely back in our own hands. Investment in our infrastructure has been long overdue and, after the training ground, we have prioritized plans to redevelop the Abbey over the last 18 months devoting significant time and money to the project. 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. We concluded recently that 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.”
Added Barry, “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. Taking all this into account, we have taken the decision to ‘put our foot on the ball’ and take stock. Ownership of the Cledara Abbey Stadium means we are fully in charge of our destiny. The Abbey will remain our home for the foreseeable future and we can always revisit redevelopment plans at any point should we choose. Equally, as Owners and the Board Members who are custodians of the club for the current and future generations we should also be open-minded about potential relocation. There is nothing on the table and nothing imminent but I wanted to share our current thinking at the earliest possible opportunity.”
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