Wrexham must now focus on securing League One promotion after their Wembley dream was snatched from their grasp.
Wrexham had the game under control after Modou Faal’s excellent chipped finished and George Dobson, who excelled in the Wrexham player ratings, had put the Red Dragons two goals ahead.
Arthur Okonkwo’s rush of blood then gave Peterborough a way back into the game from the penalty spot before some calamitous defending from Eoghan O’Connell and Lewis Brunt allowed the visitors to equalise in stoppage time.
Paul Mullin and Elliot Lee missed their spot kicks in the shoot-out and Phil Parkinson’s side crashed out. After the game, Peterborough hero Bradley Ihionvien shared a surprising verdict on Wrexham’s approach to the game.

Bradley Ihionvien questions Wrexham’s tactics in EFL Trophy semi final
Speaking to Cambridgeshire Sport via BBC Sounds after the game, Peterborough hero Bradley Ihionvien shared his surprise at Parkinson’s approach to the game.
Ihionvien stated: “Watching it from the bench, I said these lot are just waiting for pens, they wanted that. They can’t tell me they didn’t want penalties.
“I’m watching it and I’m thinking we’re doing our match prep and we’re thinking they’re going to be aggressive, they’re going to press us and then they don’t press us. It was like they were just trying to get to the end of the game.”
The 21-year-old forward came on at half time and fired home the injury time equaliser before converting the first penalty of the shoot-out. He had no doubts that his Peterborough side were the deserved winners.
Ihionvien explained: “We dominated the game and deserved to go through.”
Wrexham mocked by rivals following Wembley heartbreak
Post match, Ihionvien trolled Wrexham owner Ryan Reynolds by posting on his social media account the words ‘Bye Bye Bye’ with a Deadpool reference relating to Reynolds.
Wrexham’s defeat was also widely celebrated on social media by rivals fans who took great delight in hearing supporters chanting ‘Que Sera’ as Peterborough’s equaliser hit the net.
Parkinson’s job now is to keep his side’s focus on the League One promotion race and use the external mocking and noise as motivation to prove critics wrong.
With fourteen huge fixtures remaining, there is still plenty to play for but the Red Dragons will need to ensure that teams do not have an easy ride like the Posh claim to have had in their semi final victory.
