Peterborough United raise £1.5 million in three days through bond issue

The Peterborough United bond scheme desigined to raise funds to modify and improve the Weston Homes Stadium has reached its first target of £1.5 million in just three days.

By Alan Swann
Friday, 20th May 2022, 9:22 am
Posh chief executive David Paton
Posh chief executive David Paton

The club have now set its sights on reaching £2.5 million – the maximum allowed in this bond issue – which would cover the cost of the planning application and design of the proposed new stadium on the Embankment.

Investment has so far been limited to those who pre-registered with scheme operators Tifosy, but the offer will be available to the general public from Monday, May 23.

The £1.5 million raised means the club can complete the safe standing area at the London Road End of the current stadium and create a seven-day-a-week sports bar to replace the current ‘Venue’ bar.

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Posh chief executive David Paton belives there is great untapped potential at the club.

Mr Paton said: “The most exciting thing in my first few months is seeing just how much untapped potential there is. Category 2 status is going to be a game-changer for player recruitment and development, for the first team and for revenues from the transfer market. Owning the stadium is encouraging us to make exciting improvements like the new sports bar, which brings a whole new revenue stream.

“The safe standing investment is crucial because we can’t use the London Road terrace in the Championship anymore and we see ourselves as a Championship club and it’s absolutely our aim to get back and get established there.

“And then there’s the new stadium and community venue – that has the potential to transform this club. It’s all super exciting and what’s great about the Bond is that the supporters and the community get to be a part of making it all happen. It’s a huge opportunity to be part of our journey.”