Peterborough Panthers' new owner Rick Frost has confirmed he has completed the takeover of the club.

Mick Bratley will return to his role as promoter and Trevor Swales will remain as team manager, but former owner Colin Horton now has no ties with the club.

Frost told BBC Radio Cambridgeshire: "It's been a protracted negotiation but the ownership has now been transferred.

"We're going to get the club on an even keel and get things running properly. It's a new venture for me."

He added: "I'm used to running companies so this is a relatively small package from my perspective.

"It's going to be a lot of fun for me because I enjoy speedway, and I enjoy the atmosphere at Peterborough."

The Berkshire businessman said he would look for consistency with team management and promoters, having persuaded Bratley to return to the club after he resigned last month.

"Mick's back at the club as promoter and Trevor Swales is staying on as manager which is a good thing," Frost said.

"We're getting this ship back on an even keel after it's been through some rough seas.

"The first objective is to get it financially stable - which we're achieving as I speak - and then we'll start to plan for the future a bit more."