Rose Hill Youth Centre, in The Oval, has been awarded £50,000 from the Football Foundation, as well as £20,000 from Oxford City Council and £17,000 from the Oxford Safer Communities Partnership.
It plans to use the money, in partnership with Rose Hill Football Club, to run free football training sessions, one-day tournaments, football festivals and healthy-living workshops for 13 to 19-year-olds living in Rose Hill and neighbouring Littlemore, for 46 weeks of the year.
Football facilities in the area will also be improved, including the installation of new floodlights, changing rooms and showers at the recreation ground pavilion.
There will also be weekly sessions for young people with physical and learning disabilities.
The project, designed to promote a healthy lifestyle and tackle antisocial behaviour, will be launched with a six-a-side football tournament starting at noon on Sunday, April 30, at Rose Hill Recreation Ground.
About 150 local teenagers are expected to take part in the event.
Rose Hill youth worker Maggie O'Sullivan said: "We're really excited to have been awarded this money, which will make a huge difference to young people living in Rose Hill and Littlemore.
"Encouraging young people to make positive choices both on and off the pitch is central to the project's ethos."
Rose Hill Football Club manager John Massingham said: "I think it's brilliant for the estate. I hope we can get more kids involved in football, as there are a few who don't do anything.
"They just hang around, but they need to put their energies into other things. This could be a really positive thing for every- one."
Neil Holman, Oxford City Council's active communities partnership manager, said: "Football is something that many people can enjoy. This money will help make this an extremely beneficial project to all those involved."
Football Foundation spokesman Rory Carroll said: "Sport has a proven record in engaging with many of the most difficult to reach groups in society, offering participants diversionary activities as well as healthier lifestyles and personal development skills.
"The scheme will benefit not just the young people directly involved, but also the wider community."
The football training sessions will kick off on Bank Holiday Monday, May 1. Full details will be posted shortly at Rose Hill Community Centre.
Last year, Ms O'Sullivan managed to get funding of around £21,000 to run a music scheme in the community centre.
About £9,000 was used to set up a music studio and £12,000 went on running music sessions three times a week.
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