Skip to main contentAccess keys help

[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 30 November, 2004, 13:25 GMT
Football club agrees rescue deal
Cambridge United football club have agreed to sell and re-lease the ground to keep the club out of administration.

At an emergency meeting at the Abbey stadium on Monday evening, shareholders voted to sell the ground to board member John Howard for nearly �2m.

The ground will be leased back to the club for �200,000 a year, although fans felt the deal would not keep the club from going into administration.

But Chairman Gary Harwood said leasing back the club was the best plan.

He said: "I would like to have been able to conclude a better arrangement than the one we've had to conclude, but in the end, compared with all the other alternatives that were pursued...I have to say it is fair."

Justin Medd, from Cambridge Fans United, said fans were not happy with the rescue package.

"We went into that meeting feeling that, in fact, administration would have been the best option because, better to go down in administration owning your own ground than to do it in a year's time not owning your own ground, which is what we think is going to happen."




SEE ALSO:
Football club EGM to sell stadium
29 Nov 04 |  Cambridgeshire


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
AmericasAfricaEuropeMiddle EastSouth AsiaAsia Pacific