The Posh board offered the chance to invest in the club through a bond with an aim to improving the existing facilities at the Weston Homes Stadium, but also to set help set the planning and development wheels in motion at the proposed new stadium on the Embankment.
Initially the aim was to raise £1.5 million to help create a swish new sports bar at the ground and to erect a safe standing area at the London Road End of the stadium.
That total was passed in six days by investors who pre-registered for the bond and opening the offer up to everyone on Monday quickly secured another million. The fund-raising cap was set at £2.5 million which has now been reached.
Happy Posh co-owner Dr Jason Neale said: “The club is delighted, but not surprised with the success of the bond raise. Once again our supporters have rallied behind PUFC and we will use the funds to advance several key projects. With the new bar having been on the drawing board for 4 years, I am particularly keen to see this kick off.”
A minimum investment of £500 and a five-year commitment was required to be eligible to take part with the club offering a generous 9% annual interest rate and a 15% bonus if Posh win promotion to the Championship in the period covered by the bond.
The sports bar will replace the current ‘Venue’ and is expected to be open seven days a week.