The re-edification of the monastery, henceforth known as Burgh, is due to Bishop Ethelwold, of Winchester, with the approval and support of King Edgar.  This was accomplished in 972.  We have now reached a point where all can take a practical interest in the subject, because portions of this church are to be seen to this day.  The exact site of the Saxon church had always been a matter of conjecture until the excavations made in the course of the works incidental to the rebuilding of the lantern tower (1883-1893) finally settled the question.  Many students of the fabric supposed that the existing church practically followed the main outlines of the former one, possibly with increased length and breadth, but at any rate on the old site.  It is now ascertained that the east end of the Saxon church was nearly under the east wall of the present south transept and the south walls of the south transepts of both buildings were but a very few feet apart.  The dimensions of the former church both its length and breadth, were as nearly as possible half of those of the existing one.  A description of the present appearance of the remains will be found in a later chapter (see page 80).

The Church of Bishop Ethelwold was not without its vicissitudes.  Nothing was more promising than its origin, and the circumstances of its building.  King Edgar and Dunstan, whom he had made Archbishop of Canterbury, were very enthusiastic in extending the growth of monastic influence in the country.  No less than forty Benedictine convents are said to have been either founded or restored by Edgar.  Bishop Ethelwold was entirely of one mind with the King and Archbishop, in the ecclesiastical reforms of the day.  Mr Poole well describes the commencement of the work.  “At Medeshamstede the ruins were made to their hands, and they at once commenced the grateful task of their restoration and appropriation.  As usual, we find certain supernatural interferences assigned as indications of the divine approval of the work.  It is related how Ethelwold was directed by God, in a dream, to go to the monastery of S. Peter, among the Mid-English; how he halted first at Oundle, supposing that to be the monastery intended; but being warned in a dream to continue his eastward course, at length discovered the ashes of the desolated Medeshamstede.  It needs but little ingenuity to collect from this that Ethelwold, having received some vague intelligence of the present condition both of Oundle and Medeshamstede, started from Winchester, determined on reaching either or both; and that being less pleased with what he saw at Oundle than he expected, he extended his progress to Medeshamstede."[6] The Queen is said to have overheard the Bishop’s fervent prayers for the success of his object, and to have used her influence with the King; but he probably required very little persuasion to undertake what was so much to his taste.  It may be mentioned that if we accept the date 972 for the completion of the re-building (the Chronicle gives 970 for its commencement), the very same year witnessed that well-known scene on the River Dee, when King Edgar held the helm of a royal barge as it was being rowed by eight vassal kings.