The waiting is almost over for thousands of folk fans, with the gates opening on Thursday at one of the country's best-loved festivals - Cropredy.

Starting 27 years ago as little more than a garden party, Cropredy has grown into one of the world's great music festivals, attracting 20,000 lovers of folk-rock from as far afield as the USA and Australia.

The three-day festival, which runs until Saturday night, was originally held as a farewell concert by the band Fairport Convention, whose members Dave Pegg and Dave Swarbrick lived in the village.

Despite numerous line-up changes, the band still play a large part in the event, now officially known as Fairport's Cropredy Convention.

The event also acts as an annual get-together for past and present members of the band and assorted friends and collaborators.

This year's event, marks a special landmark for the band - it's their 40th anniversary. Among the celebrations will be a set by the surviving members of the band's original 1969 line-up, who will perform their classic album Liege & Lief.

Festival director Gareth Williams said the prospect of seeing the band playing the album, voted by Rdio Two listeners as the most influential folk record ever, proved too much for music-lovers.

"We have sold-out in advance for the first time ever," he said. "I am very relieved. Though I am gutted for people that have left it too late to buy a ticket on the gate.

"When we announced that the 1969 line-up was playing, everyone came out of the woodwork. That album is the Holy Grail of folk-rock, and has never been performed since the 60s."

As in previous years, the festival highlight is Fairport's extended Saturday night closing set, when they will be joined by special guests and former members.

The set will end in traditional style with a mass sing-along to the band's 1960s hit Meet on the Ledge.

Organisers are now praying for fine weather.

"I have lost hair worrying about this festival," said Mr Williams, who took over the organisation from Fairport's Dave Pegg three years ago.

"Three weeks ago the fields here were covered with 3ft of water. Certain fields are still cordoned off, but elsewhere the conditions are beautiful.

"It was also a worry waking up to news of the foot and mouth outbreak. But then nerves are part of the job!

"I'm just looking forward to the buzz of people arriving - and then to Saturday night and hearing 20,000 people cheering Fairport Convention on to the stage!"