OXFORD United hope to have a decision on their planning application for a new stadium by the middle of July.

The U’s announced at the end of last month that a full planning application had been submitted to Cherwell District Council, for the construction of a 16,000-capacity ground at The Triangle, south of Kidlington Roundabout.

Talking to BBC Radio Oxford’s The Dub podcast, United chairman Grant Ferguson discussed funding the new stadium, its ownership, and alternative options should they be required.

READ ALSO: Fans welcome ‘huge moment for Oxfordshire’ after stadium application submitted

He said: “The planning application going in was a big step forward, and there’s a long way to go, but it’s a major milestone.

“What they tell me happens now is a one or two-week verification process. Then the application will start being considered, along with the public consultation process, and we hope by the middle of July to have a determination on the application.”

A budget north of £100 million has been set for the construction of the proposed stadium.

Asked how the ground could be funded, Ferguson said: “We’ve got to have a funding plan that goes along with it, similar to any other large-scale construction project.

“There will be a mix of debt, equity, naming rights, and some grant applications possibly, but that still is to take shape.”

Oxford Mail:

Discussing the proposed stadium’s ownership, he added: “The legal structure has to follow the financial structure, so we don’t know yet what exactly that legal structure will look like.

“What the commitment is though, is that the club will always have an unambiguous right to play at the stadium and call it home.

“This will be very different to the Kassam Stadium. This will be an outright, unimpeached right to use it 24/7.

“We’re not talking about it necessarily being completely different ownership groups, but it may be a sister company or a subsidiary.

“It just really depends on how the financing package comes together.

“All the economic benefits will still accrue into the club, over and above the cost of servicing the debt.”

The U’s are looking to build a new home as the club’s licence agreement at the Kassam Stadium runs out in 2026.

If the club is looking for a decision on their application by the middle of July, it would leave them with two years to get the stadium built should they receive planning permission.

On the exploration of a Plan B, Ferguson said: “We’ve always known there is a possibility of that, and we’ve not been ignoring that fact.

“There are options, and some are better than others, but at the moment, we really need to stay focused on Plan A.

“We have very capable project managers that tell us we still have a timeline, where we can make it work.”