The Peterborough Telegraph can reveal Peterborough United and Peterborough City Council will sign a ‘stadium purchase heads of agreement’ on August 17.
This agreement will be definitive and will lead to the stadium sale back to the football club around eight weeks later.
The signing ceremony will take place in front of Posh fans before the League One fixture with Ipswich at the Weston Homes Stadium.
Posh co-owners Darragh MacAnthony, Dr Jason Neale and Stewart ‘Randy’ Thompson will be present as will Peterborough City Council representatives.
In 2003 the club sold what was then known as London Road to a property developer who in turn sold it to the city council for £8m in 2010.
Posh could relocate the stadium in the long-term with a riverside location, presumed to be on the Embankment, the preferred destination.
No move would take place without consultation with the Posh fans.