Work on the project had been delayed by the coronavirus crisis but the club said today (August 13) that work on the project to relocate from London Road was back underway.
In a statement issued today the club said: “Peterborough United are delighted to confirm that plans for the club’s new stadium are moving forward following a short delay due to the Covid-19 pandemic with a moving in date pencilled into the schedule.
“Following a meeting at the Weston Homes Stadium on Wednesday (Agust 12), the new stadium has been given the green light to resume and the co-owners, Stewart Thompson, Jason Neale and Darragh MacAnthony are pleased to announce that the new ground should be ready to open in January 2023, subject to the necessary planning permission, funding and construction timetables.
“The club are working closely with the City Council on the plans, which will form part of the master development of the Embankment, which also includes the new Anglian Ruskin University, a technology centre, pubs, restaurant and additional entertainment venues.
“In February 2020, Embankment Properties, which is made up of the three Posh co-owners, and Peterborough City Council (PCC), signed a key Memorandum of Understanding outlining a collaborative agreement and shared vision for a major, landmark development for Peterborough United FC and the people of Peterborough and surrounding communities.”
Posh co-owner Stewart Thompson said: “Throughout this process, we have worked closely with the Peterborough City Council and shared our vision of the future and they have been extremely positive, and we have worked well together. Nobody could foresee how Coronavirus would affect everything, but despite a pause in our progress, it is great that we now have the green light to continue down our path and look forward to moving into the new stadium, which will not only be fantastic for the football club but for the surrounding community too, in January 2023.”
In March thisthe Peterborough Telegraph reported that senior figures at the club had have impressed by the Groupama Arena in Budapest, the home of Ferencvárosi TC, which they hoped to use as an inspiration when moving to a new stadium, on the Embankment.
Posh co-owner Jason Neale told the Peterborough Telegraph at that time: “The way it works is the concourses behind one of the grandstands can be moved, creating the space for exhibitions and concerts. They have over 200 non-football events which they host at the stadium on an annual basis. Everything from exhibitions to wedding events to corporate functions. This could be a real epicentre for businesses in the Peterborough region. It’s very easy to commute to Peterborough from the north and London.
“The way the stadium looks is important as well. It needs to be an iconic stadium from a visual perspective and a stadium with a substantial uplift in attendance. New stadiums get a bounce in the number of people who become regular match day attendees. In some studies it has been a 40 to 50 per cent bounce.
“So we think there will be a big uplift in ticket-holders, but the stadium will also become profitable without matches being played. We will also look to partner with the new university if we can do something that benefits us and them.” Dr Neale said the club is considering naming rights to the new stadium, with current sponsors of the London Road ground Weston Homes given the first option. He added: “It’s an exciting time. The team is doing well on the pitch and things are going well off it.”
The club hopes to open a new stadium in time for the 2022/23 season with capacity for 17,500 fans – potentially rising to 23,000 – with the option for safe standing after signing a Memorandum of Understanding with the city council. Along with Posh matches, it is hoped the new stadium will hold large concerts and events in the city centre.