LATEST NEWS: Financial fairplay is hurting Peterborough United, new director on board, different sort of striker sought, praise for Junior, Edwards injury update

On loan Posh goalkeeper Jonathan Bond. Photo: Joe Dent/theposh.com.
On loan Posh goalkeeper Jonathan Bond. Photo: Joe Dent/theposh.com.
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Financial fairplay rules could scupper Peterborough United’s hopes of extending goalkeeper Jonathan Bond’s loan until the end of the season.

Bond’s initial loan at Posh runs until January 3 and Championship side Reading want an increased financial commitment from Posh if they want to keep the 24 year-old until the end of the season.

Posh chief exectuive officer Bob Symns at the club AGM.  Photo: Joe Dent/theposh.com.

Posh chief exectuive officer Bob Symns at the club AGM. Photo: Joe Dent/theposh.com.

It also emerged at the club’s Annual General Meeting today (December 18) that chairman Darragh MacAnthony has given the green light to sign new players in the January transfer window, but again financial fairplay is an issue.

Posh director of football Barry Fry said: “When we did the deal for Jonathan in the summer, Reading said they would want more money if we decided to keep him until the end of the season. That is still the case.

“The player wants to stay, we want him to stay and Jonathan’s agent wants him to stay, but the problem I have is financial fairplay. We are only allowed to spend 60% of our turnover on players and we are at 96% of that right now.

“We also have players out on loan who are due to return next month. I am trying to get players out, but so far it hasn’t happened.

Posh manager Grant McCann at the club AGM.  Photo: Joe Dent/theposh.com.

Posh manager Grant McCann at the club AGM. Photo: Joe Dent/theposh.com.

“The chairman has told me to get the players on the manager’s wish list as well, but again I need to shift some players out.”

Posh boss Grant McCann also attended the AGM. He confirmed he is seeking a ‘different sort’ of striker in January.

The players due to return from loan spells are Matty Stevens (Kettering), Jordan Nicholson (Nuneaton), Morgan Penfold (Biggleswade) and Josh Tibbetts (Royston). Brad Inman’s loan at League One rivals Rochdale runs for the entire season.

The official business at the AGM lasted just four minutes. Chairman Darragh MacAnthony, who wasn’t present, and chief executive officer Bob Symns were relected to the board, while club secretary Liz Elsom was elected as a new board member.

Posh midfielder Gwion Edwards receives treatment on his ankle injury at Fleetwood.  Photo: Joe Dent/theposh.com.

Posh midfielder Gwion Edwards receives treatment on his ankle injury at Fleetwood. Photo: Joe Dent/theposh.com.

The board was praised by shareholders for the way they manage the club’s finances. The club did lose almost £1.4 million to the year ending June 2017, but the floor accepted these are difficult times for lower division clubs who have ambitions of success.

McCann took questions from shareholders at the end of official businesss. These ranged from short free kicks and opposition corners to Posh players not playing forward enough, quickly enough.

Injured striker Junior Morias received praise from McCann and Symns for his on and off-field behaviour. He was described as a credit to the club’ by McCann who revealed the striker cancelled his summer holidays after being advised to lose two stone in the close season.

Fry also revealed Posh tried to sign Cambridge United midfielder Luke Berry in the summer. McCann spoke to the player, but Cambridge’s reluctance to seel a star man to Posh scuppered the deal. Berry subsequenty joined Luton.

Posh midfielder Gwion Edwards is today due to have a scan on an ankle injury he picked up at Fleetwood on Saturday.