- Club has received offers of significant new investment
- Well-progressed negotiations for a permanent ground are temporarily on hold
- Banbury United to continue as a Community Benefit Society (CBS) into the 2025-26 season.
Members of Banbury United Community Football Club Ltd met on Tuesday April 22nd for an update on negotiations with the Club’s landlord to secure a pathway to a long-term home. The meeting included an overview of expressions of interest from potential investors in the Club, following a positive member vote in January to explore a switch to private ownership.
Wayne Farrell, Chairman of Banbury United FC, said, “Last night, we walked members through the multiple conversations we’ve had on their behalf over the past few months with various stakeholders and potential investors. The excellent news is that Banbury United – a well-run football club with no significant debt – has attracted potential investors with some ambitious plans. The prospect looks bright for our teams, our ability to serve our community and for the expansion of sporting provisions in Banbury.
“Banbury United has resided at Tramway Industrial Estate on 12-month leases for many years. This lack of security puts the Club at a significant disadvantage when it comes to attracting funding and prevents it from being developed in any substantial manner. Understandably, therefore, certain interested parties want assurances regarding the current and future home of Banbury United FC before they proceed with compiling their full offer and declaring their interest publicly.
“Board member, Ryan Duggleby, has been intensely driving a series of meetings with our landlord, Tilstone Holding Ltd, which has certain obligations to Banbury United. They have investigated all imaginable options for permanent or much longer-term football ground solutions, regardless of the involvement of private investment.
“Negotiations, assisted by the commissioning of a new stadium construction cost appraisal, had brought both parties close to identifying and agreeing a mutually acceptable pathway, considering various options, including: financial support towards the building of a new stadium at the Banbury 12 development and purchasing or entering into a longer-term rental agreement at our current ground – at least while construction of a new stadium takes place.
“Unfortunately, as of a couple of weeks ago, discussions are on hold as the parent company of our landlord, Warehouse REIT, is subject to a takeover offer. We have been advised that no new property transactions will be undertaken by the business at this time. As a result, settling on the exact ground solution and the presentation of potential investors to our members is delayed until, we hope, later this year.
“With the 2025-26 season only a few months away, as a Board of Directors, we are committed and fully prepared to continue to operate Banbury United as a Community Benefit Society (CBS) into the 2025-26 season. We will be in touch with members shortly about renewals. In parallel, and as swiftly as possible, we’ll be proceeding with landlord negotiations, presenting investor offers to our members and reaching a point where the transfer to private ownership can be put to members for a formal vote at an EGM.
“I’d like to thank our members for their support and patience. We have explained to them in depth the financial challenges faced by the Club under the current CBS model and income levels. Everyone is aware that the coming season will not be easy, financially, but with the community’s help – from volunteering to sponsoring us to coming along to watch matches – we will operate under another very strict budget while taking the next fundamental step to securing our own ground and controlling our future. We will do everything we can to protect our playing budget, building on our first team’s solid performance in the Southern League Premier Central this year,” concluded Wayne Farrell.
