Fantastic News for ‘POSH Supporters’ and the City.
Posh Supporters’ Trusts Application for ACV is Approved!
The Trust’s application to the City Council, for the London Road Stadium to be classified as an ACV (Asset of Community Value), has finally been approved. This means the Posh Supporters’ Trust now has a legal ‘Right to Bid’ should the stadium be put up for sale any time in the next 5 years.
If the Council wishes to sell the Stadium, the Posh Supporters’ Trust would be notified. Then should the Trust 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.
The Posh Supporters’ Trust is dedicated to ensuring the long term survival and success of Peterborough United Football Club and the ACV gives some additional assurance over the longer term future of the stadium. Our ultimate desire is to see the football club and the stadium re-united and successful as a community club.
Our specific objective in gaining the ACV on London Road is to be in a position to make any sale more transparent to the community. It is the potential delay in the sale, the openness of the process and the “Community Right to Bid” which are important, to avoid any 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, thus ensuring the stadium remains a treasured asset for the community and all Posh fans in the future.
The London Road Stadium is the 25th football stadium to achieve an ‘ACV’ listing nationally, following successful applications by their respective Supporters’ Trusts. These include, Old Trafford, Anfield, King Power Stadium, Portman Road the Valley and St Andrews.