Adam Webb has sold his minority stake in Cambridge United to “concentrate all his support” on St Johnstone.
The American lawyer, who bought the Perth club from Geoff Brown in the summer along with a group of other US-based investors, got his first taste of football in the UK with Cambridge.
His 10% share of the EFL League One side meant the McDiarmid Park takeover took a few weeks longer to get rubber-stamped by the governing bodies north and south of the border than would otherwise have been the case but didn’t prove to be an obstacle.
However, Webb, who is currently being treated for cancer, has decided the time is now right to sell his Cambridge stake, with their co-owners, Paul Barry and Mark Green, picking up 5% each.
Barry explained: “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.
“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.”
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