Oxford United: Stadium delays put club's future 'at risk'

A football club has said its future is being "put at risk" by delays to legal agreements over the lease of land for a new stadium.

Oxford United hopes to build a 16,000-capacity stadium near Kidlington.

There is still no binding agreement between the parties - six months after Oxfordshire County Council approved the lease of the site.

The authority said there was an "ongoing dialogue" with the club over the "heads of terms" agreement.

A statement from Oxford United said: "Six months after pledging to commit to a lease on the land at the Triangle the heads of terms and lease agreement have been agreed by the club but remain unsigned by the Council."

"We need the heads of terms and lease option with appropriate conditions signed as this is causing serious delay and is putting the project and the very future of the club at risk."

At a recent fans forum, the club revealed that the estimated cost of the stadium project had risen to £130-150m, and that funding for it will come from a variety of sources including investment from the financial markets.

It is understood United have already spent more than £5m on the project to date, with a planning application set to be considered by Cherwell District Council this summer.

In a statement, Oxfordshire County Council said: "The council remains in ongoing dialogue with the football club as regards heads of terms. However, the club does have an agreement in principle in writing subject to the conditions set out by cabinet."

"It is standard procedure for large developments that a sale or lease is not completed until after planning has been granted and financial institutions would fully understand this process."

The five-hectare (12-acre) site is located south of Kidlington roundabout, west of Banbury Road, east of Frieze Way and opposite Oxford Parkway Station.

The club, which says it has to leave its current home at the Kassam Stadium when its lease expires in 2026, released computer generated pictures of the proposed complex in October. It would include a 180-bed hotel, conference and event space, and a health and wellbeing centre.

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