Chairman Firoz Kassam has said he will stop his support for Oxford United if an agreement reached last night between the club, Les Wells and the city council is not fulfilled.

The agreement should, the club believe, lead to conditions on the land at the club's new stadium being lifted. Les Wells has also made his position clear on the This is United fans' forum.

In an announcement made this afternoon (Friday), Mr Kassam said that, if the conditions were not now lifted, he would no longer "support the football club" and would stop paying the contractors at Minchery Farm.

He continued: "I do not wish to make details of the agreement public today, but I am making this statement because I promised to make my position clear by the end of this week. Late last night the City Council, Les Wells and myself spoke at length and I believe there is a proposal on the table which all parties should be able to live with, and basically I've left it to the City to deliver their side of the bargain.

"I want to make it very clear that the ball is very much in the City's court now. It is in the hands of the councillors and the officers, and if they can deliver a document agreeing to this new deal by Wednesday then I will continue to pay the contractors and the club. If not, then it is my intention not to pay any further money to the contractors and to ask them to stop work on the site, and it is also my intention not to continue supporting the club any further.

"It is vital that people understand The Manor Ground has already been contractually sold with possession in August," he stressed. "The club will not have a home to play in if the new stadium is not completed."

He added: "In the time I have been at Oxford United I have poured millions into building the new stadium while having no security of tenure. The land at Minchery Farm still belongs to the City Council, and will remain so until the new stadium has been completed. In the meantime, however, endless legalities and problems have continually increased the financial burden on me.

"I had a conditional agreement with the City Council over the new stadium, but I want it made unconditional now. I have spent millions building the stadium and it has got to a stage where I am not prepared to take any more risks. I have stuck to my side of the bargain without any guarantees or certainties from anywhere. The only person who has taken a risk in all this is myself, and the time had to come when I said enough is enough."

He said he wanted the issue of ownership settled by Wednesday.

"I wish to make it clear that, because matters are at a very delicate stage, neither myself nor anyone at the club will be making any further statements until after Wednesday."

Add your view on the announcement on the This is United fans' forum