INTEREST in bringing Oxford Stadium back to life has gone into ‘overdrive’ with multiple prospective operators coming forward.

While most have opted to remain anonymous, Nina Saunders, who has strong links with speedway, has revealed she is leading a consortium that announced its intentions in the Oxford Mail last month.

However, the news of the consortium roused the interest of a number of other groups, with city council chiefs saying they expect at least one other bid in the coming months.

Miss Saunders, operational managing executive for the Southampton Saints speedway team, had been working alongside Oxford City Councillor Van Coulter, who died suddenly on March 13 aged just 57.

She expressed her sadness at the passing of the ‘wonderful’ councillor but vowed to keep moving forward with the deal.

The group, which consists of a number of parties who want to remain anonymous at this stage, hopes to initially invest £1.5m in the site before eventually seeing it run as a not-for-profit enterprise with a management committee, while re-launching Oxford Cheetahs with a supporters' association.

She said: “I am extremely excited we are going in the right direction, but this is coupled with a sense of shock at the passing of a truly lovely man who was so co-operative in our dealings with the council, Van Coulter.

"The ball is firmly in the consortium's court. We will have to prove that the money is there waiting and we are working as fast as possible.”

Miss Saunders, 73, of Newcastle-Under-Lyme, has a background in engineering and administration and was 'hooked' on speedway from the age of eight.

She said: "Speedway is in my blood. I love the togetherness of the extended speedway family, which includes racers, supporters and everybody involved.

"I don't think there's anything that compares to speedway. It knocks all other forms of motorcycle racing into insignificance."

However, Oxford City Council leader Bob Price has revealed a second bid from a mystery party with a 'business background' is due in at the end of April, while campaigners say they are aware of several more.

Mr Price said: "Van Coulter and I spoke to Nina about two months ago and she realises we are waiting for a proposition with some clear financial details.

"There is one other, convincing potential buyer with whom we have quite a long association and he is also putting together a final bid proposal."

Once a buyer is tied down the council can press ahead with plans to take back the former greyhound and speedway track via a compulsory purchase order (CPO).

The once-great stadium in Sandy Lane has been closed since 2012 with owners silent on their plans for its future despite clamour from locals to re-open it.

Ms Saunders’ consortium, which includes Oxford Cheetahs fans with experience in speedway promotion, is aiming to secure £1.5m from investors to buy the site from Oxford City Council after the CPO.

It would need to satisfy the Speedway Control Bureau, which issues circuit licenses, that sound tests, health and safety checks and other criteria are satisfied.

Eventually a managing committee, run as a charity, could be formed made up of people with a stake in the site.

In September last year the stadium was shifted from owning company GRA Acquisition to a new firm, Cowley Property Investment Ltd, which has the same directors.

Mr Price said: "We know the stadium was 'bought' for £1.4m. If we fund the CPO process we want that money to be returned as quickly as possible."

Andy Cooper, who runs the Karting Oxford go-kart track at the stadium, said he and five other local businessmen were each standing by with £250,000 each as a ‘last resort’ if a suitable would-be operator could not be found.

But he added that running the stadium as a not-for-profit was the safest way to ensure the stadium’s long-term future.

He said: “Unless the council can come up with a really good reason why it shouldn’t happen, they have got to support it.

“A couple of other people are actively trying to come to a deal with the council, doing it as a purely commercial thing. That will erode it over time if they decide it’s not viable.”

Ian Sawyer, chairman of the Save Our Stadium campaign, said Miss Saunders’s plan was ‘very exciting’, adding: “It’s a matter of getting everyone behind it.

“I know of two other prospective buyers; one has been in touch with the council. Often there’s not a lot to say on the stadium, then it all goes into overdrive.”