Naveen, your Cambridge CP2 is a phono preamp. It is generally used between a line stage [referred to as a preamp]. The CP2 takes the phono cartridge’s tiny signal adds the necessary RIAA equalization, amplifies it enough to match the output level of other components like CD players, DACs, tuners, TVs.
The CP2s signal then would normally go to a preamp, an Integrated amp [includes both a preamp & amplifier], or a Receiver [includes a tuner, preamp, & amplifier]. These days it is not unusual for an integrated amp or Receiver to also include a DAC[digital to analog converter].
Think of a line stage, or a full function preamp as the control center of a stereo. PS Audio’s BHK Signature preamp is a very high end example of a line stage.
I get that you already have a Sprout, it will be compromise. I am not sure where you live, here in Milwaukee we have a couple of places where you can buy used gear, including speakers for very little. One is a second hand CD and record store, the other is a pàwn shop. Another place to look is Goodwill, I bought a pair of EPI 100, that I replaced the surrounds on. I used them in my little work shop for many years.
What I am trying to get across is that your CP2 is a phono preamp, not a preamp, also known as a line stage that acts as a control center including volume. And rather than mickey mouse the Sprout in, get a cheap pair of speakers for the Sprout, and a linestage or volume control for the main system. You will end up with two systems, both better optimized.