Peterborough City Council and Peterborough United Football Club are now in a position to provide an update about the delivery of a new stand and educational facilities at London Road.

"Following a number of successful meetings the city council and the football club have agreed to a set of terms and conditions which will allow both parties to forge ahead with a major redevelopment at the football ground.

"As a result, both organisations are now in a position to put together a timetable for the programme of works. It is hoped that further details about this schedule can be announced in October.

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"Negotiations have concluded that the council will enter into a new long-term lease with the football club which allows it to take ownership of the ground in the future. An agreement has also been reached on compensation due and the council will pay compensation for the loss of away terrace capacity during the development period.

"The council has agreed to support the football club in its lobbying around the Safe Standing Initiative to persuade the Government to look seriously at the rail seat option.

"The aspiration of the council and the football club remains for the new stand to be completed for the start of the new football season in 2013."

(CD)