Peterborough City Council vows to end £220,000 payment dispute with owners of Posh stadium
Officers say they will take ‘necessary steps’
Peterborough City Council officials have vowed to continue to pursue a £220,000 payment they say is owed by the owners of the Peterborough United football stadium.
The council says the cash is one of a number of yearly payments that were part of the deal agreed in 2021 by London Road Peterborough Properties (LRPPL) to purchase the London Road-based stadium.
It says the outstanding payment was due last March and has also warned it will press for the 2025 payment, which is due this March.
A council spokesperson said: “We continue to push the stadium owners for the debt that is owed to the council.
She added: “We will take all necessary steps to see the money that is owed paid.
Under the terms of the stadium sale, LRPPL undertook to pay the council a lump sum of £4.1 million and agreed to pay £233,000 a year up to and including March 2026. So far for 2023/24 only some £32,000 had been paid meaning the amount now due is about £221,000.
Posh owner Darragh MacAnthony has said: “I don’t comment on ongoing contract disputes but remain committed to reaching an agreement with all parties re the stadium and the stadium company. It will all get sorted.
“This has nothing to do with the football club as it has a long term lease which is always up to date per its lease.”
Just a week ago Peterborough United FC reported a loss of £2.317 million for the year ending June, 2024.
That is down from a loss of £3.532 million for the year ending, June 2023.