Why Kassam will be in no rush to sell (From The Oxford Times)

Why Kassam will be in no rush to sell

9:00am Saturday 5th January 2013 in News By Andrew Smith, Business Editor. Call me on 01865 425460

FOR more than six years the Kassam Stadium has been the holy grail for Oxford United’s executives as they looked to develop the club.

But the widely reported asking price of £13m demanded by Firoz Kassam has always proved too much to raise.

And Mr Kassam is in no rush to sell. As a businessman he collects half the advertising revenue from the stadium as well as up to £500,000 a year in rent from the U’s.

Now he is also collecting his dues from London Welsh as well as from the hire of the conference centre and facilities which net him hundreds of thousands pounds more.

And the more interest generated in the stadium, the more its value is set to escalate.

Oxford United have been the only obvious bidder for the last six years.

But that position has changed. Now it could be London Welsh, Oxford United or a combination of the two. Or it could be another investor altogether, keen to cash in on the wide commercial appeal of both football and rugby under one roof.

Effectively Mr Kassam’s position has not changed.

He will continue to sit tight and collect his income from the stadium until someone comes up with the cash to buy it from him.

But ultimately he will only sell when the time is right and his valuation has been met in full.

Both Oxford United and London Welsh fans could still be faced with a long wait yet.