Stadium ownership update
The Peterborough Supporters Trust (PST) would like to make the following statement in relation to recent developments concerning the proposed sale of the London Road Football Ground (known as the ABAX Stadium) to a 3rd party (as yet unknown).
Under the Localism Act, 2011, Part 5, Community Empowerment, Chapter 3, Assets of Community Value (ACV), the PST have bestowed the statutory right to bid for the freehold of London Road Football Ground (known as the ABAX Stadium).
Recognising the PST’s statutory position, Peterborough City Council (PCC) and Peterborough Football Club (PUFC Ltd.) have asked the PST to indicate whether the PST intends to bid for the football ground freehold (the PST do not have any information concerning the scope of the proposed sale, so at this time are unable to comment). The PST has a six month window to explore the possibility of making a bid which could mean talking to other parties who might have a better way of protecting the stadium in the longer term.
The PST are only concerned with the longevity and sustainability of the club and professional football at its current location. The PST want the club to thrive for the benefit of the community. We retain the ambition for Peterborough Football Club to play at the highest professional level of football and our only focus is to enable these objectives to be accomplished.
The PST has delivered a letter to the PCC (with copies to PUFC Ltd) asking for all pertinent information to be shared to enable the PST to make an assessment on its next steps. The PST has also asked for a meeting with the PCC as soon as is practicable.
The PST has asked for information concerning;
The due diligence completed by the PCC to ensure the PCC stated economic benefit (specifically, at the London Road address) will not be jeopardised if the sale were to proceed to a 3rd party.
The development proposition from PUFC Ltd which precipitated the proposed sale from the PCC to a 3rd party.
All commercial and legal information the PST will need to assess its next steps in relation to its statutory right to bid for the freehold of the London Road Ground (known as the ABAX stadium).
The PST has also asked a number of other questions and in addition remain ready to discuss these developments with the PCC as soon as practicable.
PCC have today (2 Nov.) acknowledged, but not replied to, our letter.
The PST will make a further statement after they receive a reply from PCC and / or after a meeting with PCC has been held.
02/11/2018 - Stadium ownership
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30/08/2018 - SMILE treat for Alan
13/08/2018 - SMILE treat for Kevin