OXFORD United officials unveiled their first new advertising banner after brokering a profit-sharing deal with stadium owner Firoz Kassam.

Football bosses said the 40ft banner for Papa John’s pizza company would secure them a slice of cash that they would have previously missed out on. The firm is the first to sign up to the new joint venture on commercial opportunities between Oxford United and former chairman Mr Kassam’s company Firoka.

United chairman Kelvin Thomas said: “We’re delighted to have Papa John’s support.

“They are a growing business and very dynamic — and this is hopefully just the first of many such agreements.

“The perimeter advertising is effectively a new revenue stream for the club after three years without it and we hope companies will follow the lead.

“Our commercial manager David Jackson has worked very hard on this and I’m sure his phone will be busy with other companies getting behind us.”

Papa John’s sponsored the matchday programme for the recent home victory against Grays Athletic.

Mr Kassam, who left the Us in 2006, agreed a 50/50 split with the club for advertising and matchday food and drink sales last month.

Previously, fans avoided food kiosks at the stadium and there was a reduction in the number of advertising boards around the pitch because the money was not going to the club.