There's renewed hope that after seven years, Oxford Stadium could be restored to its former glory.

The site in Cowley was once the home of greyhound racing and speedway - but it closed in 2012 - 73 years after opening.

The stadium opened in 1939 and greyhounds raced up until 2012.

Races were held every Saturday evening with race evenings also included on Tuesdays, Thursdays and Friday evenings at various times throughout the years.

The stadium was also home to speedway team Oxford Cheetahs - but racing stopped around 15 years ago. Plans to build 220 new homes on the site were rejected in 2013.

Oxford Stadium was home to speedway team Oxford Cheetahs Credit: ITV Meridian

Campaigners joined a packed public meeting today, calling for the site to be reopened for community use. But its future still hangs in the balance.

Now a private investor has proposed a multi-million pound plan for the site.

Campaigners joined a public meeting over the future of the site Credit: ITV Meridian

The City Council has written a specific policy in its emerging Local Plan that aims to bring the Oxford Stadium in Blackbird Leys back into use. Without this policy, the council would unlikely to be able to stop the permanent loss of the stadium.

The emerging Local Plan, a key document that will underpinning planning rules until 2036, is currently being examined by Government-appointed Planning Inspectors, who will decide whether or not each policy is ‘sound’ and can be included in the document.

The owners of the site - Galliards were not available for comment today but now the inspectors will have to decide whether to approve the local plan.

Greyhound races were held at Oxford Stadium Credit: ITV Meridian

“Oxford Stadium is a valuable community asset and we have always said that we would like to see it reopen for leisure or community use to benefit the residents of Oxford.

Councillor Alex Hollingsworth, Cabinet Member for Planning and Sustainable Transport