Peterborough United and Peterborough City Council have committed to complete the sale of the ABAX Stadium ground back to the football club on July 15.
The parties signed a memorandum of understanding to return the ownership of the ground last October. That deal has moved closer in recent weeks, although the club have stressed negotiations are still ongoing.
The club’s co-owners Darragh MacAnthony, Dr Jason Neale and Stewart ‘Randy’ Thompson took part in a ‘periscope’ session with fans on social media tonight (May 10). They also confirmed moving the stadium location in the future is a serious possibility. Asbestos has been found at the current location.
Dr Neale has been leading the negotiations with the city council. He said: “Talks have been going very well. There is a commitment on both sides to close the deal on July 15.”
Mr Thompson added: “It’s an exciting time, but it still might get bumpy before we close.”
Posh are considering a move to a brand new stadium within the city, but Mr Thompson revealed plans remain fluid, although the discovery of asbestos at the current base has complicated matters.
Mr Thompson said: “We have been in discussions with supporters groups. We are aware the club has a huge history at London Road, but the old lady is showing some bumps and bruises. There is no parking and there is no ability to expand so if we get the opportunity to move to a a new stadium inside the city walls I’d be surprised if we don’t take it.
“We’d have to gut the London Road End if we stayed and went into the Championship, and asbestos has been found.
“We have exciting plans, but if we stay where we are we have plans for improvement which are also really cool.”
One new feature at the stadium next season will be a bigger screen in the Motorpoint Stand, one suitable for advertising.
The stadium will become the Weston Homes Stadium next season after a sponsorship deal was agreed with the house building firm.