Peterborough United bid to buy back stadium '˜turned down by Peterborough City Council'

An offer from Peterborough United to buy back its stadium from the city council has been rejected, club chairman Darragh MacAnthony has revealed.

Tuesday, 16th January 2018, 8:48 am
Updated Tuesday, 16th January 2018, 10:22 am
Peterborough United chairman Darragh MacAnthony at London Road. Photo: Alan Storer/Peterborough Telegraph

The Posh owner disclosed the rejected bid while answering questions on Twitter.

Asked if the club was any closer to buying back the ABAX Stadium, in London Road, he replied: “I made an excellent offer but it was turned down. More on that later in week.”

Peterborough City Council bought the stadium and surrounding land for £8 million from Peterborough United Holdings Limited (PUHL) in 2010, a deal which was widely welcomed as it secured Posh’s future.

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PUHL had previously bought the ground from Peter Boizot in 2003.

Mr MacAnthony has been very keen to buy the ground back, particularly as the Peterborough Telegraph stated in 2013 that the club was paying £500,000 a year rent.

Council leader Cllr Holdich told the PT this morning (Tuesday, January 16): “It is true we are talking to the club but no firm offer has been received or turned down. Talks continue.”