Deal for Peterborough United to buy back stadium from council expected by end of July

The Weston Homes Stadium
The Weston Homes Stadium
0
Have your say

The deal for Peterborough United to buy back its stadium from the city council is expected to be completed by the end of July.

Posh are currently negotiating over the sale of the London Road-based stadium to the club’s owners Darragh MacAnthony, Stewart ‘Randy’ Thompson and Dr Jason Neale.

Dr Neale said previously both sides had committed to having a deal completed by Monday (July 15) but talks remain ongoing.

However, everything is expected to be signed off shortly, with a Peterborough City Council spokesperson saying: “We expect the deal to be completed by the end of July and hope to make an announcement shortly.”

Mr Thompson revealed the complexities of the deal in an interview with the club’s website last week. He said: “There has been a bit of pain. We are unlikely to meet our July 15 deadline for getting the deal done because of certain struggles with certain aspects of the transfer.

“We have to know exactly what we are picking up because other companies and a business centre are currently housed in the building.

“Even strips of the parking lot are confusing. Does the city own a particular strip or is owned by the Devaneys (former Posh owners from the late 1980s, early 1990s)? is the sort of thing we are working through.

“Once we’ve cleaned it all up, and hopefully that won’t be long, we will get it done no problem and we will discuss with fans what their preferences are.”

Posh have yet to decide whether to remain in the Weston Homes Stadium long term or relocate to another part of the city.

Mr Thompson revealed last week that if the club does build a new stadium, it will be on the riverside.

RELATED: Peterborough United could move stadium to riverside location if they relocate

Peterborough United edge closer to buying back their stadium and the latest on a potential move for the club