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Cambridge United co-owners Paul Barry and Mark Green have increased their stake in the League One club.

They have each bought half of the 10% shareholding of Adam Webb, meaning Barry now owns 75.01% of the club and Green the other 24.99%.

Barry has been the majority shareholder at the Cledara Abbey Stadium for the past five years.

"Earlier this year, Adam became the majority owner of St Johnstone FC so we have all agreed that this is the right moment for both parties for him to concentrate all his support and focus on this new project," he said.

"Alongside Mark, he approached me with a proposal to take a minority ownership stake in Cambridge United at what was a critical moment during the pandemic.

“Their financial support has been not only important in helping us stabilise as a football club but also in allowing us to move forward on and off the pitch."

Barry said he was pleased that Green would be staying alongside him to help run the club.

"Together with the board and staff, we will continue to modernise, develop and steward the club on behalf of our fans in a financially sustainable way," he added.

Cambridge are 21st in League One, but have won their last three matches under boss Garry Monk, who was appointed in March.

They are next in action on Saturday when they travel to National League club Woking in the first round of the FA Cup.