The long protracted takeover of Peterborough Speedway was finally completed late on Friday 22nd August 2008 and confirmed by the BSPA.

The new owner of Peterborough Speedway is Mr. Rick Frost, the owner of ReadyPower, "Number One for Plant Hire", whose head office is based in Wokingham, Berkshire and has depots nationwide.

Rick, a former World, European and American power boat champion, has attended most of the Panthers meetings this season as a guest of the club and was initially interested in getting involved on a commercial sponsorship level and also sponsoring current Panthers rider, Danny King, but after discussions with the Peterborough management, he decided to buy the club outright.

He has ambitious and exciting plans for the future and is pleased to announce that Mick Bratley has returned in the role of Promoter and that Trevor Swales has remained with the club as Team Manager.  Supporters will be pleased to know that all rider assets were included in the purchase.

Rick’s comments on the takeover of the club and his aims were plain and simple, he said: “Let’s make Peterborough Number One for Speedway!”

Returning Promoter Mick Bratley said: "This is the start of an exciting era for the club.  I have spoken at length with Rick during this season and listened to his ideas and he has listened to mine and we have both liked what we have heard.  Rick will help unlock this clubs potential and move it on to a higher level.  I am really looking forward to working with Rick, and I am sure our supporters will make him feel right at home.  The last few weeks have been very painful for all concerned and I have to say that Rick has demonstrated more patience than I will ever have!  The aim of the game now is to stabilise the club for the rest of this season and plan for next season during the winter months".

Team Manager Trevor Swales said: "Rick will be superb for this club and after a long period of uncertainty he will bring some much welcome stability for us.  I am very much looking forward to working with him and we now have to set about moving away from the bottom of the table, and looking towards 2009 and beyond.  Our rider's confidence and belief in us as an operation will now return.  It is great news for everyone involved at the club and of course the supporters."