The UHLSport Hellenic League club was also aided with further funding from Banbury Charities and Cherwell District Council.
The funding has enabled Sports to make significant improvements at Addison Road to meet ground grading standards as well as provide much needed improvements for players of all ages.
Key changes include a mini-grandstand, hard standing, perimeter fencing and two new car parks, which also provide additional parking for all staff at Blessed George Napier School.
Funded with £5.2m each year from the Premier League, the FSIF is the country’s largest provider of grants towards projects that help improve lower league grounds in professional and amateur football.
Sports chairman Richard Meadows said: “I’m proud of the achievements of all members of the club who have raised money through fund-raising events and tournaments to pay for the improvements. We have worked tirelessly to raise the funds to make the necessary improvements.
“We have developed a thriving youth section and are providing a facility that benefits all teams as well as enabling the first team to continue to play Hellenic League football.
“Five years ago we set out a development plan to improve the opportunities for young players as well as improving the quality of coaching and facilities. We remain on track and hope the improvements will enable us to progress further.
“We are very excited about the future and are passionate about providing a pathway for talented players to come through into senior football at the club and, perhaps, through to Banbury United.
“We are grateful to all organisations including the Football Foundation, CDC, Banbury Charities and, in particular, Hawkins Construction of Banbury, for their support and construction of mini-grandstand. They have been brilliant throughout the process.”