It has been confirmed that Peterborough United's ground on London Road is now under new ownership.

An announcement before their recent home game against Derby County confirmed that Peterborough City Council are now the owners of the stadium and the surrounding area of land around the stadium.

Peterborough United Holdings Limited previously owned London Road but have now been given £8 million by the local council for the stadium and land.

Marco Cereste, Council leader for Peterborough City Council, is pleased with the new deal which strengthens the future of football in the area.

"I am absolutely delighted that we have been able to buy the stadium and surrounding land,” Cereste said.

"This land is the key to enabling us to unlock the future potential of Peterborough's riverside which is one of our city's assets.

"Now we can make real strides forward in redeveloping a new Riverside quarter which could include new community facilities, homes, shops, businesses and a school to benefit all of Peterborough's residents."

Posted on 17/01/2010