New name for Peterborough United stadium comes into effect
The new name for Peterborough United’s stadium has come into effect.
The ground in London Road has been renamed the Weston Homes Stadium after the developers and Posh signed a £2 million, 10 year deal.
The name change came into effect yesterday (Saturday, June 1).
This is the second time the club has changed the name of its stadium since forming in 1934 after signing a five year, £500,000 deal with Norwegian-owned company ABAX in 2014.
Weston Homes is currently building more than 350 apartments at the Fletton Quays development which is next to the ground.
The housebuilders also signed a five year deal with Posh in May 2018 to become the title sponsors of the club’s London Road Stand.
Under the latest agreement Weston Homes has also acquired promotion rights for the ground.
The multi-million pound deal will be paid in instalments.
Posh are currently in negotiations to buy back the stadium from Peterborough City Council, with both sides recently making a commitment to have completed the sale by July 15.
The club is also considering whether to build a new stadium elsewhere in the city in the future.
The current ground was originally known as the London Road Stadium, with the name changing in 2014 to the ABAX Stadium.
Football has been played on the site since the 1890s. The ground was opened in 1934 and the modern stadium has a capacity for 15,314 people.
Weston Homes has its head offices in central London and Stansted. It is currently developing a £3 billion portfolio of 7,500 homes across London and the South East.