Oxford United’s financial future was offered a boost after the club brokered a key deal with former chairman and stadium owner Firoz Kassam.

Mr Kassam – who left United in 2006 – has agreed with the club a 50/50 split for advertising and match-day food and drink sales.

Fans avoided kiosks at the stadium and there was a reduction in the number of advertising boards around the pitch because the money went to Mr Kassam’s Firoka business.

Club chairman Kelvin Thomas said: “One of my focuses when I first came in as chairman was to develop the relationship between the club and Firoka.

“Firoz has been excellent and he recognises the position the club found itself in, and he has worked with us to help us through our short-term issues.

“This agreement is the logical next step for the football club.

“It will allow us to enjoy more revenue streams in the short term, and also it gives us the opportunity to continue building our relationship with Firoka with the medium and long-term goal of owning the stadium ourselves.

“Both commercial teams will be working together and will be pro-active in selling the boards, developing our match-day experiences and creating more revenue streams at the stadium.”

Mr Kassam suggested it was a “real positive move” for the company. He said: “I have been happy to help the club over the last few months and feel by entering into this agreement it will develop our relationship so the club can see some more commercial benefit.

“We have worked hard on developing this and also discussing other ways we can work together.”

Mark Sennett, of supporters’ trust OxVox, said: “For a long time fans have been coming through the turnstiles but haven’t been able to spend the money they wanted because they knew it wouldn’t go to the club.

“There have been a lot of areas of missed opportunities to get revenue, so we are delighted the club can now expand these, and fans can be safe in the knowledge they will be helping the club.

“We hope this will be another step to solidifying the relationship between Firoka and Oxford United, with a view towards the main goal of purchasing the stadium.

“Any form of extra revenue could be crucial for the club’s future, so we hope local businesses will support the club and buy perimeter advertising.”

Buildbase, the club’s main sponsor, has seven pitchside boards as part of its two-year partnership with the club.

Director Peter Butterfield said: “It’s excellent news. I would be very surprised if other businesses didn’t support the principle of 50 per cent of the revenue going to the club.

“The only issue is in the current economic climate companies might be a little hesitant with how they spend their money.”

Mike Edwards, a lifelong fan and chairman of the Abbey Press Group, which used to advertise at the stadium, said: “It’s great news for the club.

“I’m sure that for people who have empathy with the club it will be a motivator for them to advertise. Kelvin has acknowledged Mr Kassam, who is doing what he can to help the club, and I would hope it’s yet another step forward.”

The club and the stadium company are offering Carlsberg for £1.75 a pint in the exhibition bar before tomorrow’s home game against Torquay United.