Oxford City Council has axed plans to designate the city’s greyhound stadium for houses and last night called for its owners to bring back speedway.

In May, Oxford Stadium was included in a list of sites put forward by their owners to be redeveloped for houses or student flats.

The decision provoked outrage among greyhound fans and speedway enthusiasts lobbying for a return of the sport to Oxford but now it has been knocked off the list.

Deputy leader Ed Turner said: “Initially the council had been contacted by the stadium owners which said they wanted to develop it.

“Frankly, since then they have gone to ground and have not engaged at all, so there was relatively little possibility of taking this forwards.

“It seemed to us it simply was not coming forwards for development.

“On top of that, we got a clear message from our consultation, not so much from greyhound people but from those enthusiastic about speedway returning to the stadium.

“We have listened to that consultation and what people were saying. My perspective would be that if the owners are not going to develop it, for goodness sake let speedway come back.”

Greyhound and speedway fans welcomed the news, but industry experts warned the stadium’s owners may still try to redevelop the site.

The 73-year-old stadium is operated by the Greyhound Racing Association (GRA), which was bought by private equity firm Capital Risk Partners in 2005.

Neither GRA managing director Clive Feltham nor Capital Risk Partners returned the Oxford Mail’s calls yesterday.

Earlier this year, GRA insisted there were no immediate closure plans.

Course bookmaker Richard Dunn said: “There was a big possibility that it could close at one stage, because the company that owns the stadium has got a history of closing tracks without people really knowing. It was very worrying, so this is wonderful news.”

He added: “The track has struggled, but recently it has been absolutely rammed. It is like the good old days 10 years ago.

“Having spoken to managers, I know it is definitely turning in a profit.”

Greyhound trainer Terry Atkins added: “This is wonderful, and it will take a hell of a weight off trainers’ minds.”

Oxford Speedway Supporters Club chairman Gavin Beckley said: “This gives us the opportunity to start serious negotiations with GRA to try to get speedway back for 2013.

“If we get the right promoter to put together a competitive business plan, and think about it early, then I am sure it would be able to break even.”

In the 1980s, 3,000 people would cram into the stadium each Friday to watch speedway, but the sport left the city in 2008.

Mr Beckley added: “This is a victory not just for speedway fans but for the city of Oxford.

“It is a first-rate facility that is criminally under-used. It is one of the finest speedway and greyhound stadiums in the country and to lose it would be a crying shame, because we would not be able to replace it.”

However, Oxford City Council’s decision not to allocate the site for redevelopment may not safeguard the track’s future.

A developer could still submit a planning application to build on the site, which would have to be judged against the council’s existing policies, which include protection for leisure usage.