OXFORD City managing director Colin Taylor began his search for an outside investor 18 months ago.

He had secured a 25-year lease on the Court Place Farm stadium and was trying to find individuals interested in putting cash into it to boost the club’s annual turnover of £300,000 and pre-tax profit of £3,000.

Thomas Guerriero was not interested at the time, but eight months ago he approached the club with his development plans.

Mr Taylor said: “He has an interest in education and sport and his emphasis is the same as ours.”

He added that Mr Guerriero had already started introducing his contacts to the club including potential sponsors and advertisers.

“It’s moving very rapidly. He knows a lot of people and we can see our students going over to the States, for example.

“And the Oxford brand will attract students to the academy from overseas.

“This is not a chairman coming in with a chequebook – we have had those sort of offers in the past. We are looking at developing something more sustainable.

“The aim is to keep moving forward and get promoted.

“Watch this space – who knows what will happen?” Fans of the club hope their new president could herald a new era of success.

Robert Padbury, 26, from Headington, said: “We all completely support the board and the managing director because he has got the club’s best interests at heart.

“I think that at the moment it is pie in the sky to get us into the Football League on the crowds we have got at the moment and we are at the level we should be at.

“But we are currently at the best level we have ever been at and we have got a good structure and good management, so I don’t see why we shouldn’t get success.”

Hoops fan Rob Holt, 68, who lives in Radley, said: “He seems to be a nice guy and seems to know where he wants to go.

“If we are going to go into the Football League I think we will have to make some changes to the ground, but it is possible.

“Whether Oxford can support two league clubs is another thing.”

The prospect of Oxford being home to two league teams is one which has been welcomed by city councillor Mark Lygo, the city council’s executive board member for parks and sports.

He said: “It is a good thing for football in the community and for the city.

“I think this will take Oxford City to a new level and it is an exciting opportunity for the football club and everyone in the community, because it is a community club.

“It is a well-run club and I expect it to prosper in the next couple of years.”