Discussions remain ongoing over a deal for the Broadway Theatre.
The Peterborough Telegraph revealed last week that Peter Dawe and Mark Ringer were fronting a deal for the iconic theatre, with a 20 year lease and an option to buy.
Mr Dawe, who is standing to be Cambridgeshire’s first ever elected mayor, said at the time he was “very optimistic” that a deal with owner Rinaldo Fasulo could be agreed in the next few days.
Questioned yesterday (Wednesday, April 18) by the PT about the latest situation, Mr Dawe said he was “working with lawyers” and that the deal “will take a while.”
But despite the ongoing talks the Ely entrepreneur added: “We are in discussions to bring some exciting West End productions to the Broadway this autumn.”
Mr Ringer, who is Mr Dawe’s mayoral running mate and who ran the popular Willow Festival in the city, will be head of operations at the theatre if the deal is completed.
His vision is for the venue to be open every day and to host seven or eight shows a week. There would also be a piano bar inside and live music in the day time.
The figures for the deal are not being revealed, but Mr Dawe said both himself and Mr Ringer had offered “substantial” funds, on top of money put in by private backers.
The pair are part of a new community interest company which would run the theatre and seek more investment locally to put on top shows.