Monday, 10.08am: Peterborough United and the city council have finally thrashed out a deal which will allow the start of revamp work at London Road stadium and lay the foundations for the club buying back the ground.
In April, Peterborough City Council said it hoped to start work on the demolition of the The Moy’s End stand during the summer.
Today, the council announced it has agreed terms which will see Peterborough United compensated for the loss of the away terrace while work is carried out, as well as agreeing a lease which will eventually allow for the club to take back ownership of the ground in the future.
The council has also issued its support for the club’s bid to introduce “Safe Standing” areas in the ground.
In a statement released today, a council spokeswoman said: “Following a number of successful meetings the city council and the football club have agreed to a set of terms and conditions which will allow both parties to forge ahead with a major redevelopment at the football ground.
“As a result, both organisations are now in a position to put together a timetable for the programme of works. It is hoped that further details about this schedule can be announced in October.
“Negotiations have concluded that the council will enter into a new long-term lease with the football club which allows it to take ownership of the ground in the future.
“An agreement has also been reached on compensation due and the council will pay compensation for the loss of away terrace capacity during the development period.
“The council has agreed to support the football club in its lobbying around the Safe Standing Initiative to persuade the Government to look seriously at the rail seat option.
“The aspiration of the council and the football club remains for the new stand to be completed for the start of the 2013/14 football season.”
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