Ivan is ready to repay manager's faith as reports suggest Peterborough United paid a £650,000 fee for his services

It’s emerged Posh first lodged a bid with Newcastle for the 22 year-old in May. Reports in the North East are claiming the fee paid was £650,000, but no one at Posh has yet confirmed this.

Toney is set to make his Posh debut in Saturday’s (August 11) League One fixture at Rochdale, probably from the substitutes’ bench.

Toney made his name at local rivals Northampton - his home town club - before moving to Newcastle in August 2015 for £250,000. He has made just four substitute appearances for the Magpies and been loaned out on six occasions to Barnsley (twice), Scunthorpe (twice), Shrewsbury and Wigan.

Toney finished last season well scoring eight times in 13 League One starts to help Scunthorpe into the League One play-offs.

“The time was right for me to finally make a full-time move,” Toney stated. “I wasn’t playing at Newcastle. They just kept loaning me out and that can get annoying after a while.

“Peterborough actually bid for me at the start of the summer and I took my time as it was a big decision to make. I’m convinced it is now the right one and I hope I can repay the manager’s confidence in me.

“The style of play and the club’s reputation attracted me. I’m not thinking about the next move though. It’s all about settling down here and scoring enough goals to help us win promotion. If I get a big move after that so be it - it’s what happens in football.

“I want to prove a point here. I want to be worth my place in the team. There is a long season ahead, but everyone knows what the club’s ambitions are.

“It will be nice to be back down near my family, but I will worry about playing Northampton when it actually happens.”

If Posh did pay £650,000 for Toney it would make the striker the fifth most expensive player in the club’s history after Britt Assombalonga (£1.25 million), Tyrone Barnett (£1.1 million), Michael Bostwick (£800,000) and Jack Payne (£750,000).