Peterborough Sports seek investors to help a remarkable Cinderella Story to continue

Peterborough Sports are seeking new investors to help the club sustain their National League North status.
Peterborough Sports chairman Grant Biddle congratulates manager Jimmy Dean. Photo: James Richardson.Peterborough Sports chairman Grant Biddle congratulates manager Jimmy Dean. Photo: James Richardson.
Peterborough Sports chairman Grant Biddle congratulates manager Jimmy Dean. Photo: James Richardson.

The rise of the city club from Peterborough League to a division two down from the Football League in just over a decade is a barely believable Cinderella Story.

But club owner/chairman Grant Biddle believes the club have reached their financial ceiling and he would now welcome investment from other parties. The 61 year-old has spent £600k of his own money in his four years at the club and would consider selling his interest.

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The National League want Sports to increase the current capacity of their Bee Arena Stadium to 3,000 even though their average home gate hovers around the 300 mark.

Sports have also been operating under a transfer embargo since November after falling behind with their VAT payments. They have reduced the debt owed to £5k from £45k, but they need to clear it completely before the embargo is lifted.

Despite this Sports sit in a creditable 11th place in the table.

"I’m in my fifth season at the club, but I don’t have the resources or the time to take the club any further,” Mr Biddle said. “I am 61 and still work at my business on a full-time basis.

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"I’m still very committed to the club. What we have achieved is incredible really, but we really could do with some help from fresh investors just to sustain the level we are at now. I would stay and help if needed, but I would also be prepared to sell the club to someone capable of keeping us at our current level or maybe take it further.

“We are easily good enough to compete on the field, but off the field it has become difficult.

"We pushed the boat out to get up last season and we did fall behind with our HMRC payments hence the transfer embargo. We have made great strides to get that debt cleared, but until the final £5k is paid we cannot even sign a kid from Cambridge for £100 a week. The National League are very strict even with some higher profile clubs than ours.

"We had a mid-table budget in the division, but we have reduced those payments with player departures which has left us with a minimal amount of players. We haven’t had a full substitutes’ bench in some games.

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"There are many clubs who pay out considerably more, but they have 4G pitches they can hire out five days a week.

"We are told we have to have a 3,000 capacity stadium, but we have gates of 300 so we certainly don’t need one.

"It’s a great club with an outstanding manager, some excellent players and a loyal and supportive fanbase so if anyone is interested in helping out financially they are welcome to contact me.”

Anyone interested in helping the club can contact Mr Biddle by e-mail at [email protected].

Sports are next in National League North action at home to Southport on Saturday (January 7, 3pm).