OXFORD City Football Club’s chief executive and President has acquired Oxford Hoops basketball club. Florida-based Wall Street tycoon Thomas Guerriero hopes to oversee the club – which will change its name to Oxford City Basketball – progressing up the sport’s leagues.

Mr Guerriero, who took up the role with city, said: “We are absolutely committed to the city of Oxford. We are very confident that the right people are involved and I am very much looking forward to working with them in getting the club to where their dreams are.”

Oxford Hoops are based at The Mail Centre, Oxford Business Park North and play in the fourth division of the English Basketball League.

The team will finish the season as the Hoops and will play the 2014-15 season as Oxford City Basketball.

Head of coaching Franky Marulanda said: “Mr Guerriero will bring a level of expertise and professionalism that will take our team to be globally recognised. It’s very exciting to see how things will unfold as we put Oxford City Basketball on the map as a force to be reckoned with.”