Cambridge United are close to securing new investment, with chief executive Alex Tunbridge expecting an announcement before the end of the year. The news comes as the team enjoys a strong start to the League One season, sitting fourth in the table with 20 points from 11 games.
Tunbridge confirmed to BBC Look East that negotiations with a preferred party are progressing well. "We are talking to a preferred party," he said. "We have made an application to the English Football League and to the independent football regulator." He added that the club is not seeking an investor with limitless wealth but rather a partner who can share the load and bring valuable skills, experience, and connections to the club. Current owners Paul Barry and Mark Green hold 75.01% and 24.99% of the shares respectively.
On-field momentum
The investment talks are buoyed by the team's impressive form. A 2-2 draw with Wycombe Wanderers on Tuesday extended their unbeaten run in all competitions to 10 matches. That result left them just two points behind leaders Stockport County. Striker Shayne Lavery, who scored a 78th-minute equaliser against Wycombe and an injury-time winner at Barnsley last Saturday, has been key from the bench. The 27-year-old Northern Irishman said he has accepted his super-sub role this season. "I am enjoying it and it obviously helps when you are coming on and scoring goals," Lavery noted.
Cambridge's recent fixtures show a resilient side, with their last five league results reading three wins and two draws. They have scored 18 goals while conceding 14. The club now prepares for a key home match against fifth-placed Plymouth Argyle this Saturday, a fixture that could see them consolidate their play-off position. Tunbridge's message to supporters is one of cautious optimism. "Hopefully we will have news soon," he said, aiming to finalise the investment details as the team continues its push up the standings.
More detail at bbc.co.uk
