Company that owns Peterborough United's Weston Homes Stadium goes into receivership

London Road Peterborough Properties Ltd has been placed into receivership.

London Road Peterborough Properties Ltd (LRPPL), the company that owns Posh's Weston Homes Stadium has entered into receivership.

A receivership is a process that is put in place to protect a “troubled” company. During the period a receiver, or trustee, steps in to manage the company’s assets and financial decisions.

It can be used assist creditors in recovering funds in default and can help companies avoid bankruptcy.

In this case, it has been confirmed that the company will be entering into the receivership due to a dispute with its primary lender.

LRPPL was created in March 2021 to purchase the Weston Homes Stadium, the Allia Business Centre and ancillary land from Peterborough City Council and is a separate entity to the club itself.

The company lists three directors at companies house, the Posh’s three co-owners Darragh MacAnthony, Jason Neale and Stewart Thompson.

A club statement said: “Peterborough United FC is aware that the company owning the Weston Homes Stadium, namely London Road Peterborough Properties Ltd (LRPPL), has entered receivership because of an ongoing dispute with its primary lender.

“It’s important to note that these are two separate legal entities and PUFC are fully compliant with the terms of the lease, which runs until 2039 and the business will continue to operate as usual.

"We are advised that the owners of LRPPL continue to negotiate with its primary lender and are confident that a solution can be found.

“We look forward to our upcoming home fixture against Oxford United and the exciting League One run-in.”

Mr MacAnthony has already moved to reassure fans that the club- which is a separate entity to the company which owns the ground- is not in any danger.

He said: “Heads up Posh fans: Some news will come out today. FYI club is all good & fine. Nothing changes re club from the news. All will be excellent in time. Don't panic or speculate.

“Trust in me when I say that :). 17 years allows me politely to ask that. Cheers.”