Members of a 90-year-old social club say its future is secure for another nine decades after a mystery donation saved it from folding.

The cash-strapped Eynsham Sports and Social Club was due to close for good last weekend, but it was thrown a lifeline after an anonymous benefactor stepped in with a £15,000 loan.

The loan must be paid back over five years at an interest rate of one per cent, club members said.

Newly-elected treasurer Michael Cross said: “The club is secure for the next 90 years, I’m quite confident of that.

“This club goes back a long time. It’s the heritage of those men who used it during the war that we need to preserve.”

Last week’s decision to close the club, which has more than 400 members, came after it defaulted on a loan payment to the Scottish and Newcastle Brewery over Christmas. The club borrowed £7,000 from the brewery two years ago.

Mr Cross said: “It requires harsh financial measures to turn the club around. But this fortunate financial situation means we can clear the loan and debts and have working capital to go forward.”

He said he planned to analyse the club’s membership and see if improvements could be made to its opening hours to attract more trade.

Last week, other people came forward with offers of money, he said.

“There were plenty of people who wouldn’t have allowed the club to die. It’s a great little place and it’s the heart of the village,” he added.

The Swan Street club houses a bar, skittle alley and snooker tables and is hired by residents for family parties.

Former treasurer Jane Mitchell, 54, urged villagers to carry on using the venue to keep its balance books in check. She said: “They must use the club. We are still not immune to the recession. I think people have realised they have to use it now.”

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