Peterborough football club ground development - who paid for it? - LETTER

Peterborough Sports FC have previously put on record its thanks to Parkway PSL Ltd for the financial assistance that it provided in early 2013 in the first phase of the redevelopment of the ground, without which, it would not have been able to embark on its journey through this decade.
By The Newsroom
Published 9th Nov 2019, 05:00 BST
Peterborough Sports in action. Photo: James RichardsonPeterborough Sports in action. Photo: James Richardson
Peterborough Sports in action. Photo: James Richardson

A while ago now, Parkway sold its football pitches on Maskew Avenue for a retail park and then sold another sports ground at Eye Green to Van Hage for another retail park about 10 years ago. The council issued a £100k Section 106 order as a result of this second sale, and so the money spent by Parkway PSL Limited on the sporting facilities at PSL was from the proceeds of this.

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Therefore Peterborough Sports FC would like to assure the members of the PSL Social Club, that not a single penny of its membership fees or money that it put across the bar was in anyway passed across to the football club or spent for their benefit. Our suspicion would be that we have actually been a net contributor to the financial position of Parkway PSL Ltd.

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The total spend on the football ground this decade is £311,379. The largest contribution is £145,358 from the Football Foundation, which is Football Association monies, and indeed they are not given enough credit for the fantastic support they provide to clubs throughout the non-league ladder.

The balance of £79,550 has been funded by the football club/individual donation directly.

Whilst Peterborough Sports Limited is a private limited company, our constitution notes that we have a “not-for-profit” principle, and so we can re-assure our supporters that every penny that they spend with us on entry fees or on their cup of tea inside the ground is ploughed back into the club.

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The next six months promises to be the most challenging we have ever faced as a club since leaving the comfort of the Peterborough League, and we will be challenging people across the city to support us through this period and help us in any way that they can, as we look to put our own clubhouse facility in place.

Our initial estimates suggest that we need to find around £40k ourselves by the end of the season and is one of the reasons why we felt it important to present the facts behind how we have got to where we find ourselves today.

On behalf of Peterborough Sports FC

Related topics:PeterboroughFootball Foundation