Senior management at Peterborough United are ‘ready’ to submit the planning application for their new stadium on the Embankment with a co-owner warning that failure of these plans would set the process back for a decade.
A new stadium for the club has been in the plans since 2018 when Canadian investors Stewart Thompson and Jason Neale bought a 50 per cent share in the club from Darragh MacAnthony.
In February 2020, the club signed a memorandum of understanding with Peterborough City Council about the project, which included the Embankment as a potential site.
The club have openly stated that the Embankment is their desired location and that they are now just waiting until after the forthcoming local elections to put in the planning application.
Posh Co-owner Stewart Thompson, speaking in a Zoom meeting, said: “From our side on the planning we are good to go. We are just waiting to get through the purdah period and the election.
“We completed the paperwork to buy our current stadium on March 31 but now is not a good time to be pushing ahead. We are ready to let the new council settle but look forward to being a big part of the new council’s agenda in their first year.”
Posh plan for the stadium to be multi-purpose and capable of holding concerts and other events 250 days a year rather than just football matches.
The long-term vision is to create an entertainment and communities arena, which could include restaurants and educational centres in conjunction with the new ARU Peterborough development on the Embankment.
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