Chairman Darragh MacAnthony is ‘super-optimistic’ the new ownership arrangements at Peterborough United will be beneficial for the club.
Posh delivered some shock news earlier today (March 2) by announcing MacAnthony had sold 50% of the club to a pair of Canada-based businessmen Stewart ‘Randy’ Thompson and Dr Jason Neale. They purchased their shares though a newly-formed company, Kelgary Sports and Entertainment. MacAnthony will remain as Posh chairman.
MacAnthony says the new partnership should help the club buy back its ground from Peterborough City Council, but warned against a belief that Posh will now be bankrolled into the Premier League.
MacAnthony, who has often said he didn’t work with partners, has now revealed how the deal came about with a post on his popular Facebook page.
It read: ‘Re my new partners: ‘So with news now released over the new partnership announced today, I will share with Posh fans a little more detail to it all.
‘As you can read in the statement, this isn’t something I have actively gone out looking for or instigated. This all happened out of coincidence with being introduced to both Randy and Jason via telephone by Alexander Jarvis and his firm Blackbridge who specialize in football takeovers.
‘Then whilst I was in Vegas watching a fight they wanted to catch up for a coffee. They were already deep in discussion about buying another football club and wanted to pick my brains on how/what ownership was really like and how I created the policy we have at Posh etc, and more detail on the industry itself.
‘We had a great chat, then we headed our separate ways. A few weeks later they asked if I could come to Canada for another chat.
‘I jumped on a plane, flew over and within an hour of being in the meeting they asked me what would it take to become partners with me. It threw me for a loop at first as I hadn’t expected it and, truth be told, I have never had business partners before in my life.
‘I was straight with them about all things Peterborough good/bad and my expectations for the club and my financial number should I ever want to sell up or leave. They insisted on agreeing a deal but only if I stayed on as chairman to continue running the club.
‘We then talked through what they brought to the table, not financially, but business-wise, ideas-wise and how the synergy between the three of us would work. It all blew me away.
‘We agreed to take our time concluding the deal. They visited multiple times, went through the due diligence process, Football League vetting and it was all formalized as I went away on vacation.
‘I want to be very clear to Posh fans so there is no confusion or cross wires/mixed messages and everybody thinking our club will be buying its way up the football pyramid.
‘That will not be happening. My new partners love our policy at the club. The way we go about our football business is admired by many clubs in the EFL and this will not change at all.
‘This new partnership will see us be improve off the pitch commercially, invest in our facilities, improve our academy as we strive to return Championship football.
‘It will help with hopefully acquiring the stadium, redeveloping it and creating new initiatives to get more fans young and old through the turnstiles.
‘Both Randy & Jason are fans of the game and already passionate Posh fans having watched all our games for last five months or so and want us to be a really stable modern-thinking, top-half championship club with a brilliant youth academy.
‘Some fans (not many) have become slightly disillusioned with how I have run the club and I am not so arrogant as to think my way is the only way and if like-minded people come along who can improve the club, open my eyes to new ways/means then I am all ears and happy to change with the times.
‘This deal is good for the football club, the city, the fans, my family and of course me personally.
‘With the new manager on board and new partners, I am super optimistic and so enthusiastic for the future and what it brings.