Cambridge United have confirmed that £1million has been invested into the club.
The investment has come as a result of stakeholder Mark Green increasing his stake in the club’s parent company, Cambridge United Sporting Club Inc, to 20 per cent.
The funds are due to be spent on current and future capital projects, with chairman Shaun Grady citing planned improvements to facilities at the Abbey and training ground.
“This further investment is timely and welcome to enable the continued maintenance and improvement of facilities at the Abbey and at the training ground as the club prepare off the pitch for next season in League One of the EFL,” the chairman said.
“Maintenance of the stadium and providing an exceptional playing surface as well as improvement to the pitches and facilities at the training ground at Clare College sportsgrounds are priorities for the board.
“Providing a safe and secure environment is a minimum to ensure fans have an enjoyable experience at the Abbey.
“It is also important that the standard of our training facilities provide a high quality environment for the staff and squad to come to work every day and are a positive factor in persuading new players to join the Club.
“This investment is as a result of Mark Green increasing his ownership of the club’s parent company Cambridge United Sporting Club Inc (‘CUSC’) to 20 per cent, with Paul Barry owning 70 per cent and Adam Webb 10 per cent.
“The entire amount invested in CUSC has been invested in and transferred to the club and will be used in connection with current and future capital projects.
“The additional investment is further evidence of commitment of Paul, Mark and Adam to build on recent successes right across the club in their role as the club’s owners and custodians.”
Green has increased his stake in CUSC after he and Webb initially joined the club in September as 10 per cent stakeholders.
The investment has been filed at Companies House and is available to view publicly.