Firoz Kassam

Firoz Kassam (born 1955) is a Tanzanian-born, British-based businessman. He is the former owner of Oxford United F.C..

He was born in Tanzania of Indian parents and came to Britain as a student during the 1970s.

In the Sunday Times Rich List 2006 he was listed with an estimated fortune of £250 million.

Firoz Kassam made his fortune as a slum hotelier and in the 1980s was labelled a "merchant of misery". He bought run-down London hostels and hotels and was paid by local councils to fill them with homeless people and asylum seekers, until the inmates rebelled over the conditions in which they were being housed. [ "From slum landlord to Mr Ally Pally" Evening Standard (London) 2 February 2006 ]

In 1999 Kassam bought Oxford United F.C.. for only £1, also taking over its debts, estimated to be in the region of £13m. In 2000 he started building a new 12,500 three sided stadium at Minchery Farm on the edge of Oxford, which he called the Kassam Stadium. Construction of this stadium had actually been in progress since 1997, but was suspended in the early stages due to the club's financial problems. The fourth side of the stadium was left empty due to Oxford's decline in the league, as they had dropped down two divisions while the stadium was being built.

Since selling Oxford United, Kassam has repeated looked on with disdain as the club is steadily strangled financially, unable to generate funds through pitchside or stadium advertising, catering or conference activities. If Kassam could find middle ground with Woodstock Partners Ltd and sell the Kassam Stadium Oxford United could finally start to set about improving their financial and league position.

The development includes a hotel, cinema, bowling alley, gym, health centre and restaurants. Oxford United played its first game there on 18 August 2001, in Division Three of the Football League.

Oxford United's old home, the Manor Ground in Headington, was sold by Kassam, first to his own holding company for £6 million, and then to developers for £12 million in 1999. The ground has since been demolished and developed into the [http://www.nuffieldhospitals.org.uk/az_hospital_home.asp?hid=48 Manor Hospital] , which opened in October 2004.

Firoz Kassam also owns the historic mansion and grounds of Heythrop Park which he purchased in 1999 for £15m. It has been developed into a luxury hotel with an 18-hole golf course and restored landscape gardens. In August 2005 he purchased Studley Castle in Warwickshire, a hotel and conference centre formerly owned by Phoenix Venture Holdings, the consortium who owned carmaker MG Rover from 2000 until 2005.

In February 2006, Firoz Kassam's Firoka company was announced as the preferred bidder for the redevelopment of Alexandra Palace in London. The whole Palace would be given to Firoka on a 125-year lease for commercial uses. As it is held on a charitable trust, and Firoka is a private company, this proposal was very controversial. It was subject to agreement of the charity commission, which received 350 objections to the lease to develop a multi-use exhibition, leisure and entertainment complex. On 5th October 2007 in the High Court, Mr Justice Sullivan granted an application by a member of the conservationist Save Ally Pally group to quash the Charity Commission's Order authorizing the lease. [ [http://news.bbc.co.uk/1/hi/england/london/7030648.stm BBC NEWS | England | London | Court rejects £55m Palace plans ] ]

Notes

External links

* [http://www.sderotmedia.com about the kassam]
* [http://www.independent.co.uk//eceRedirect?articleId=2112597&pubId=55 "Development threat to the palace, where television was born"] (Independent article on development plans, 30 December 2006)
* [http://www.alexandrapalace.com/bidder_news2.html "Firoka One Step Closer To Securing Alexandra Palace"]
* [http://www.lynnefeatherstone.org/2006/10/birthplace-of-tv-at-alexandra-palace.htm "TV studios under threat", 29 October 2006] (Account from MP about Firoz Kassam and future of TV studios)
* [http://www.propertyweek.com/story.asp?sectioncode=297&storycode=3089751&c=1 Ally Pally faces legal challenge] (Controversy over Kassam's proposed takeover of Alexandra Palace.)