Posh to get new stadium by 2022
In conjunction with the city council and Opportunity Peterborough, the football club can confirm that site recognition includes the Embankment and other nearby sites, which are part of the City Centre Development Framework.
If all goes as per plans, the team could be playing their first match at the new facility by 2022.
Co-owners Stewart Thompson, Jason Neale and Darragh MacAnthony have already spent time looking at stadia in Europe and have been in conversations with designers and architects as they continue to develop their long-term plan for the football club.
Jason Neale said: "We were very excited to be included as part of the City Centre Development Framework. One aspect that was very clear when we spoke to supporters was the desire for a potential new stadium to be in a central location to Peterborough within walking distance of transport links, local attractions and links to the amenities that are being discussed as part of the City Centre Development Framework."
Darragh MacAnthony said: "We have worked very closely with the city council and discussions have been extremely positive. It has taken a little while, but discussions of this nature always do. We are very excited about the fact that we have got to this point and we are very excited about what happens next."
Councillor John Holdich, leader of Peterborough City Council, said: "We are delighted to be working with Peterborough United Football Club on its plans to develop a new football stadium which I am sure will be welcome news to fans.
"Already the club brings in over £7million of revenue to our city each year, boosting our tourism, creating local jobs and improving the health and wellbeing of over 1,000 young people from our communities each week. A new stadium would only increase the benefits for our city and residents.
"We will now be working closely with the football club to find a suitable location and next steps to achieve our shared ambition."