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Posh owner says he will not pay rent for London Road stadium

Peterborough United owner Darragh MacAnthony. Photo: Peterborough ET

Peterborough United owner Darragh MacAnthony. Photo: Peterborough ET

 

2.25pm: Peterborough United owner Darragh MacAnthony said at Friday’s AGM he will not pay any more rent on the club’s stadium to Peterborough City Council.

Speaking at the Posh AGM, Mr MacAnthony said that he pays £500,000-a-year to the council to rent London Road, which he thinks is too high for a stadium of its condition.

He said that discussions were ongoing with the council, but maintains that the rent levels are much higher than clubs of a similar level whose grounds are owned by local authorities.

Phil Adlam, the press officer for Posh, tweeted from the meeting: “Darragh has said he is not going to pay anymore rent on the stadium. feels it is too much. conversation ongoing with the council.”

The council bought the ground in January 2010 for around £8 million from Peterborough United Holdings Limited and a £5.5 million project to replace the Moy’s End stand is ongoing.

Mr MacAnthony told the AGM that the club is expected to lose between £1 million and £1.3 million next season as a result of the closure of the stand.

He added that when he first bought the club, he was paying £1 a year in rent, but now all the associated costs of maintaining the ground, including rates and repairs, is around £1 million a year.

Marco Cereste, leader of the council, did not wish to comment as “negotiations are ongoing”.

More on this story from Saturday’s ET: Posh chief to refuse to pay stadium rent

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