Oxford United's chairman Firoz Kassam has revealed that he bought the club's Manor Ground himself - because no-one else would risk buying it.
Earlier this week, shareholders at the club's annual meeting approved a deal which saw Mr Kassam buy the ground for £6m. It is understood ownership of the ground will now pass to Firoka, one of the chairman's own companies. Oxford United hopes to move to its new Minchery Farm stadium in July.
Shareholders heard that the chairman was prepared to gamble on acquiring the site without planning permission.
The value of the site could rise dramatically if plans by the Acland Hospital to build a £35m hospital and flats win planning permission.
Mr Kassam said no other company had been prepared to risk buying the Manor without planning permission. "I had to take that risk," he said. "The club needed the money to continue trading."
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