Only eight days after the Priority period opened for investment, the Peterborough United Bond has smashed through its target of £1,500,000 and taken applications for its maximum allowable issuance of £2,500,000.
This is a truly remarkable achievement which demonstrates the strength of support for the Club and the Board’s vision going forwards.
Co-owner Stewart Thompson was delighted with the results:
“I’m truly blown away. We were confident that the support was there and that the Bond offering would be attractive to Posh fans. But we did not imagine we would hit the £1.5 million target in four days and then the £2.5 million maximum after only eight days – that we did not expect!
We see this as a huge vote of confidence in our vision for the Club. We have some exciting plans which we can now get on with implementing – the safe standing is already underway of course – and we are looking forward to the improvements these will make for supporters at Weston Homes and the progress we will be able to make on the planning application for a new stadium.”
Safe standing in the London Road End and a new sports lounge in the Main Stand at the Weston Homes Stadium are expected to generate incremental revenues for the Club, as well as improving the supporter experience on matchday.
By reaching the £2,500,000 maximum, funds will be available to complete the initial phase of work required to submit a planning application for a new stadium and venue for the Club and the wider Peterborough community.