BREAKING NEWS: Peterborough United were almost taken away from Darragh by the Chinese

The PT has been investigating rumours of an impending Posh buy-out by foreign investors.

And yesterday (November 16), we presented our evidence to Posh chairman Darragh MacAnthony.

He declined to comment publicly, but confirmed he had rejected a proposal from a Chinese-led group in the close season.

The takeover offer has been described as ‘excellent’, but it’s understood MacAnthony believes he has unfinished business with Posh, namely returning them to the Championship at the end of this season.

Posh chief executive Bob Symns confirmed the approach was made in the summer, but insisted ‘it never got off the ground’.

Speaking to BBC Radio Cambridgeshire Symns said: “It’s not uncommon for football club owners to be approached. English football is attracting a lot of interest from potential investors.

“You have to be very wary when you are approached, but this particular interest never really got off the ground. Darragh was approached, but nothing was ever put into writing.”

Promotion back into the Championship would cap a superb 10 years at the helm for MacAnthony who purchased Posh as a League Two club in September 2016.

MacAnthony oversaw back-to-back promotions to the Championship in his first three years at the club.

Posh have spent three seasons in the second tier of English football during MacAnthony’s tenure. They spent just two seasons at that level in their previous 46 years as a Football League club.

In 10 years at the Posh helm, MacAnthony has signed off on the club’s 10 highest transfer fees of all time, including the first million pound signings Tyrone Barnett and Britt Assombalonga.