18 January 2014
The Posh Supporters Trust has applied to Peterborough City Council for the London Road Stadium to be listed as an Asset of Community Value (ACV)
Assets of Community Value have been established through the Localism Act 2011 to give Community Groups the right to know about the proposed sale of important land and buildings. It also gives the community group an option to make a bid for the asset under the “Community Right to Bid” scheme with sufficient time allowed for a bid proposal to be put together. An ACV lasts for 5 years after which a new application is required.
If the City Council approves the listing it will mean that the owner of the stadium, currently Peterborough City Council, would have to notify the Posh Supporters Trust and Peterborough United Football Club of its intention to sell.
Should the Posh Supporter’s Trust then wish to make a bid, an expression of interest (EOI) in buying on behalf of the community would need to be made within six weeks and a further four and a half months is then allowed for an offer to be submitted. During this time the stadium could not be sold to a third party. There is no obligation for the vendor to sell to the community.
For the fans and the football club and the wider community, the designation of the London Rd stadium as an ACV would give some additional assurance over the longer term future of the stadium and the opportunity to be involved in decisions about its future.
Fourteen football stadia have so far been designated “Assets of Community Value” following successful applications from the retrospective’ Supporters Trusts, these include Old Trafford, Manchester, Anfield, Liverpool and Ewood Park, Blackburn.
The Posh Supporters’ Trust is dedicated to ensuring the long term survival and success of Peterborough United Football Club and having as much protection for the ground as possible is part of this aim.
In the event of a successful application there would be more transparency of any potential sale, and could be no repeat of the rushed and secret sale of the ground to a third party that took place ten years ago, which has proved so costly to the Community, the Football Club and the City.
For any further information please contact Barry Bennett, Chair of The Posh Supporters Trust on 07710 283676