Cough Up!!

Cambridge United have today issued 5 former and 1 current director with demans to cover a £50,000 defecit in the clubs rent on the Abbey Stadium.

When the ground was sold off for £2million to Bideawhile 445, conditions were placed in the contract, and signed by the then directors, that in the event of the club being unable to cover the cost of the £200k a year rent, then the directors would cover the rent to stop the club going under.

With the club rumoured to be running at a £400k defecit, Gary Harwood, Roger Hunt, John Howard, Richard Summerfield and Gerald Lowe, as former directors, and Johnnh Hon, as a current director have been asked to part with between £2,700 and £19,000 each.

The ultimate irony in this latest sorry chapter in the clubs history, is that John Howard, who is required to pay £19,075, is also a 50% shareholer in Bideawhile 445, so would effectively be writing out a cheque for himself!

It is rumoured that under the agreement, the parties who are responsible may be stripped of personal and business assets to cover the cost of the ground rent.