Puritans plans temporarily on hold until ground discussions can resume
23/04/2025
Members were given an update on Tuesday evening
Banbury United will continue to operate as a Community Benefit Society next season with the club’s negotiations for a permanent ground temporarily put on hold.
Members of club recently agreed that their board should investigate moving to private ownership. At a meeting last night they were told that a number of potential investors with ambitious plans had been attracted, but the lack of certainty over the club’s security at the Spencer Stadium was a sticking point. The ground at Station Approach has been leased for many years on a twelve-month basis.
Wayne Farrell, Chairman of Banbury United FC, said: “Certain interested parties want assurances regarding the current and future home of Banbury United FC before they proceed with compiling their full offer and declaring their interest publicly.”
A series of meetings have been held with the club’s current landlord, Tilstone Holding Ltd, who have investigated options for a permanent or much longer-term solutions. However, their parent company are subject to a takeover which has resulted in the discussions being put on hold for the time being.
Mr Farrell said: “Negotiations, assisted by the commissioning of a new stadium construction cost appraisal, had brought both parties close to identifying and agreeing a mutually acceptable pathway, considering various options, including: financial support towards the building of a new stadium at the Banbury 12 development [the allocated area for the club close to Banbury rugby club] and purchasing or entering into a longer-term rental agreement at our current ground – at least while construction of a new stadium takes place.”
With the 2025-26 season looming members were last night told that continuing as a Community Benefit Society (CBS) would be necessary whilst the other discussions are progressed as soon as they can be.
Mr Farrell added: “I’d like to thank our members for their support and patience. We have explained to them in depth the financial challenges faced by the Club under the current CBS model and income levels.
“Everyone is aware that the coming season will not be easy, financially, but with the community’s help – from volunteering to sponsoring us to coming along to watch matches – we will operate under another very strict budget while taking the next fundamental step to securing our own ground and controlling our future.
“We will do everything we can to protect our playing budget, building on our first team’s solid performance in the Southern League Premier Central this year.”
Published: by the Banbury FM News Team
