Darragh MacAnthony – major shareholder of Peterborough United – has made no secret of his desire to buy the club’s stadium from the Peterborough City Council. Yesterday night, the club’s owners and the City council announced the joint agreement of a Memorandum of Understanding for the purchase of the ABAX Stadium.
The arrival of new investors Jason Neale and Stewart “Randy” Thompson early in March 2018 has been a major factor in the club buying the ground from the City council, and the two were on hand along side Darragh MacAnthony and Peterborough United’s top brass to announce the deal on Thursday night.
“As stewards of The Posh we are building a better, bigger club,” said Neale at the announcement event, who was a major part of the negotiations.
“Having control of the ground will allow us to create Championship-grade facilities and grow ancillary commercial income, both of which are critical to our longevity. While there is still work to be done, this is a significant moment for both the community and the club.”
The MOU agreement means that the next six months will hopefully result in the official purchase and sale of the ground.
“At Posh we remained focused on three key objectives,” said Chairman and co-owner Darragh MacAnthony.
“1 – to secure Championship football and thrive once there, 2 – to return the ground to club control, and 3 – to improve and expand our facilities and our youth system. Clearly delivering on this MOU will help us achieve all three and we look forward to closing the deal in the near future.”
Before the arrival of investors Neale and Thompson, MacAnthony made no secret of his ambition to buy the club, and will be thrilled to get the agreement over the line.