Oxford United: New all-electric ground will cost £130m-£150m
- Published
Oxford United sit a place and three points outside of the play-off places with 10 games remaining in the campaign.
Oxford United held the club's first fans forum in more than a year on Thursday evening.
At the event, United's development director John Clarke revealed their new stadium project is expected to cost between £130m and £150m.
The League One side have a lease on their current ground, the Kassam Stadium, that is due to expire in 2026, which they say cannot be extended.
Clarke insisted the new stadium is their only long-term option.
"We want to protect the long-term future of the club," he said.
"At this moment in time there is no other long-term option for us. We were faced with the same issue back in 2021 when we were talking to the EFL about having to groundshare with Wycombe."
Oxford's new stadium application was validated by Cherwell District Council on Wednesday.
Despite the positive news regarding the validation, there is still a lengthy process that lies ahead, with planning permission yet to be approved.
The validation of the planning application triggered a 16-week determination period, during which the club will seek to address all key consultation responses and agree any potential Section 106 contributions.
Section 106 allows a local planning authority to enter into a legally-binding agreement or planning obligation with a landowner as part of the granting of planning permission.
New stadium the 'only option'
With the club stating that the new project is their only long-term option, alternatives could see dramatic changes for the club, something they would desperately want to avoid.
"We do have friends in football communities," Clarke said.
"They can help us short-term if we need to, but this is the only viable long-term option for the football club."
United's promotion hopes have taken a hit in recent weeks, with just one win in their past five matches.
They sit a place and three points outside of the play-off places with 10 games remaining in the season.