THE impact of Oxford United’s promotion to the Football League could be worth more than £5m to the local economy, an expert predicted last night.

U’s chairman Kelvin Thomas had predicted a Wembley win and promotion could mean £750,000 more revenue for the club, But David Doughty, chairman of the Oxford Economic Partnership, believes it will have a much bigger knock-on effect.

The win has already boosted pub landlords, restaurateurs and merchandise sellers, who benefited from the carnival atmosphere over the last few days.

Now other businesses are looking to benefit from the team’s success and shown a willingness to shell out on advertising.

Meanwhile, football league fixtures with other regional sides such as Wycombe, Northampton, Cheltenham and Aldershot, could mean more people visiting the city.

Mr Doughty said: “There are so many effects, from the greater publicity the club will receive to the benefits for businesses and events associated with it.

“If you multiply it all together it could be worth more than £5m. And there is the general feel-good factor on businesses with people feeling so happy that’s impossible to quantify.”

Graham Jones, spokesman for the Oxford High Street Association, was at the Milk Cup final victory in 1986 and travelled again to enjoy another Wembley success.

He said: “It is a very positive sign for the Oxford business community as we come out of recession.

“The club will be able to attract more sponsorship and there will be more fans supporting the club with attendances expected to rise perhaps to 8,000. There will be more fans visiting the city, especially from bigger clubs such as Bradford City and the local derby with Wycombe Wanderers.”

At business furniture and stationery supplier B-Line Business Supplies, a commercial partner of the club based at Stanton St John, 10 of the 14 staff went to Wembley, while the firm organised a coach for key customers.

Managing director Phil Beesley, whose father David Beesley is chairman of the company, said: “As far as we’re concerned it’s a win-win situation for business in Oxford. There are a lot of smiling faces around the place today and that has to have a knock-on effect.”

Kevin Middleton, director of U’s shirt sponsors Buildbase, said positive momentum was building in the county with Witney MP David Cameron becoming Prime Minister and the economy on the road to recovery.

He added: “We’ve been partners with Oxford United for 10 years and this is probably the highlight of that association. Our staff, customers, friends and families all had their spirits lifted by this win.”

Club chairman Kelvin Thomas said: “Promotion will have a fantastic impact on the economy for all of Oxfordshire.”