Both sides will do battle for the Colin Pratt Memorial Trophy in addition to League Cup points.
The trophy will be awarded over the aggergate scores with Panthers heading to Lynn on Thursday, April 21.
“Colin’s son and daughter, Troy and Susan, will present the trophy to the aggregate winners at King’s Lynn and it just adds a little spice to the two meetings.
“Colin was a great friend to me and we spent plenty of time together in his latter years and his passing was felt throughout the sport.
“It’s only right that he is remembered in this way and I hope both sets of supporters come along and back their team.”
Pratt did most roles in a glittering career as a rider, promoter and team manager and was in charge of the England team which won the 1989 World Team Cup.
Gates at Peterborough will open at 3.30 for the 5pm start and a bumper crowd is expected.