A DEAL has finally been agreed for Oxford United’s new training ground and it is hoped the arrival of the club’s new owner could bring more investment.

Former city council leader Bob Price revealed an agreement had been reached for Oxford United to take over a ‘significant’ part of a new £4.9m sports complex near Horspath funded by BMW and run by leisure provider Fusion.

The Horspath Road site is currently being developed and should be completed in the summer.

Mr Price said he had been ‘frustrated’ in recent months by stalled negotiations but was pleased the Yellows would be a major part of the new development.

He said: “The last we heard - two weeks ago - they had agreed heads of terms which had been signed by Fusion but the deal was awaiting a signature from the club.

“Now it seems that was waiting for a signature from the new owner.

“They are taking over a significant part of the site and will be investing in the buildings there as their own facilities.”

The negotiations were handled by outgoing chairman Darryl Eales but the club confirmed it had ‘invested’ in the new training ground when it announced the arrival of Sumrith Thanakarnjanasuth on Thursday.

Mr Price will remain as the council’s head of economic development and regeneration until the election in May and hoped the training ground investment would only be the first cash injection into the club under its new owner.

He said: “We would hope that the new owner’s arrival would allow the dispute over the stadium, which has been dogging the relationship between Darryl and Mr Kassam to be resolved quickly and efficiently.

“The ideal solution would be that the club is no longer just a tenant of the stadium and instead can be at the centre of its development - the fourth stand is a very important part of that.

“The Kassam Stadium is a great asset but it’s been sad to see the lack of investment in it over the years, even when it comes to care and maintenance, and I hope that will change with the new owners.”

He added: “We also hope the Thai group will invest in the club and in the players so that it can improve on its slightly dodgy position in the league and think about the goal of promotion, which is what everyone wants.”

While the Thai businessman, known as ‘Tiger’, played no part in the negotiations of the training ground, it is believed his signature will finalise the deal.

The club said the investment would provide ‘first class facilities for many years to come’.

United’s academy will also move to the site form its current home in Roman Way.

The rest of the complex will be open to the public and local sports clubs.

Fusion Lifestyle will have a 25-year lease to operate the new facility and will focus activities – including competitions, leagues and new clubs – on key target groups in Oxford, including children and young people, and those who are currently inactive.