New Oxford United stadium lease deal agreed
It's due to be situated in Kidlington
The club has signed a legally binding lease option with Oxfordshire County Council for land known as The Triangle.
It follows the news last month that heads of terms had been agreed following detailed negotiations.
The completion of these contracts represents a significant step forward in securing Oxford United a new long-term home.
Earlier this year an application was submitted to build a new, modern, eco-friendly 16,000 capacity stadium. The club will be able to fully exercise the 250-year lease once planning permission has been obtained from Cherwell District Council for the development.
The lease option agreement includes provisions to ensure Oxford United’s right to play at the stadium is secured, along with safeguards on rent and use of facilities.
A community collaboration agreement formalises the club’s commitment to social, environmental and economic benefits for the community, as outlined in the seven strategic priorities set by the council.
The strategic priorities include improving public transport and achieving a net-zero development. Oxford United has also committed to the production of a Net Zero Plan in line with the UN Sports for Climate Action Framework.
Grant Ferguson, Chairman of Oxford United, said:
“This is a major step-forward in our exciting stadium development plans and for the long-term sustainability of the club.
“On behalf of the club, I’d like to extend a thank you to our stadium project team, to all our supporters and to Oxfordshire County Council.
“We look forward to continuing to work closely with key stakeholders to bring our vision to reality.”