League Two Cambridge United have announced Paul Barry has taken full control of the club after the U’s board recommended him to shareholders in August.
The club confirmed the proposal received enthusiastic support from all former major shareholders, including Cambridge Fans United. It has also now been approved by The EFL.
The lifelong fan of United has promised to fund the club’s ongoing losses for the next five years and previously stated a desire to build a new stadium on the dated Abbey Stadium site.
Barry is based in the United States but was brought up in the city. He’s been the major shareholder since the resignation of Jez George as chief executive in February 2018.
Chairman of the board Chris Grady reaffirmed all stakeholders in the club were in favour of the move which he hoped would be the beginning of a bright future for Cambridge who have made a decent start to the campaign under Colin Calderwood after struggling last season. The upturn in form led to Calderwood agreeing on a new two-year contract with the club last month.
In a statement on the club’s official website, he said: ‘It means we can now all look forward as a Club with financial security off the pitch and, coupled with Colin Calderwood agreeing to extend his contract, further stability and hopefully more success on the pitch.’
It appears his sentiment was shared by many U’s fans when they took to social media to comment, with many hoping it signalled the start of the club being run in a more business-like manner.
Here is a selection of responses to the news on Twitter.
https://twitter.com/calmacp/status/1179444183666499584?s=20
https://twitter.com/InterestedObs78/status/1179438224629993478?s=20
https://twitter.com/bunnywx/status/1179457236965498882?s=20
https://twitter.com/jerryfroggett/status/1179464814818660352?s=20
https://twitter.com/thefamousFroMan/status/1179444591814221824?s=20
https://twitter.com/Matt1Clarke/status/1179507469908955136?s=20
https://twitter.com/leftwardjack/status/1179451286439239680?s=20
