In a statement made at a fans forum last Thursday Cambridge Finance Director Nick Pomery warned that while cash was available to see the club through the season, initiatives were needed to inject the cash necessary to survive the close season and beyond.
"As things stand, we have £100,000 in the bank, so we're running close to, but slightly behind, budget and unless something bizarre happens, we're confident we're safe, certainly until the end of the season. While we've made progress, the club's situation remains precarious and we have limited cash reserves and are still losing money (an expected running loss of £250,000 for the season). We've turned the corner financially but there's a long road ahead of us."
Cambridge barely survived the last close season - five people, including then manager Steve Thompson, were made redundant as soon as the season ended as the administrator attempted to keep the Club afloat, and the Club are expected to lose £250,000 this season. Central to this loss is the £200,000 yearly rent on the Abbey Stadium paid to Bideawhile, a company owned by Vice Chairman John Howard. Bideawhile bought the stadium from the Club in December 2004 for £1.92m, with an immediate 50 year lease issued to the club, and has so far refused offers to resell the Stadium to either the club or the supporters.