Oxford United club chairman Firoz Kassam has promised to try to reach an "amicable settlement" with the city council over the non-payment of £494,000.

The amount was due in January from Mr Kassam's company Firoka, as part of a deal over the Kassam Stadium, but it has not been paid and the council has now issued a writ.

At the Iffley Leys area committee on Monday, Mr Kassam warned that it would take the council two years to get the money if the case went to court -- and could cost them half a million pounds.

But he was in more conciliatory mood following a private meeting at the town hall on Wednesday, in which he discussed a number of key issues with the council's Labour leader Alex Hollingsworth, and Bob Price, the executive member for property.

The two sides also discussed residents' concerns about the lack of parking restrictions outside their homes on match days and the freehold valuation of the Priory pub site, which Mr Kassam wants to buy.

Mr Kassam said: "The meeting was very constructive. The reason that I asked for a meeting was to explain to the council the financial status of Oxford United and the stadium company.

"It is my intention to reach an amicable settlement and I will do everything in my power to achieve this."

The councillors made it clear that the council was determined to pursue its claim for the £494,000 from Firoka.

Mr Hollingsworth said: "The city council has made it clear to Mr Kassam that it is determined to recover the £494,000 and this is not on the table for discussion.

"Notwithstanding this, I am confident that there is goodwill from both parties and we will continue talking and working together to resolve issues."

Mr Price added: "All parties realise these matters are urgent and we are committed to finding solutions as quickly as possible."