Oxford City have signed a former Sheffield Wednesday midfielder who was once valued at £500,000 while still a teenager.

David Billington, 21, who lives in Littlemore, Oxford, played five games as a 16-year-old at second division Peterborough United before the Owls signed him for £500,000 in April 1997.

But he was plagued by cruciate ligament problems which meant he never made an appearance for the Yorkshire side.

Billington attempted a comeback last September when he went back to Posh on loan, but his hopes ended when he broke down in his first appearance for the reserves, and was forced to quit the game at the age of just 20.

City manager Paul Lee said: "He has had no more problems with the knee, but it can't cope with full-time training.

"This is an opportunity for him to start playing again. I don't know how long we can keep him, but I am delighted to have him. He's a class act."