Grays' director of football and financial backer Mike Woodward was today waiting to hear of his formal bid to purchase Peterborough United had been accepted.
The Nationwide Division Two club had until today at 5pm to respond to his offer, made on Monday.
Talks were made public last week for control of the Posh, who have been up for sale for the past 13 months.
Woodward and two other parties have been linked with turning around the fortunes of a side in the bottom half of their division, with one consortium having offered £2.5 million.
Published Wednesday, January 15, 2003
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