Barnet residents are invited to attend a free football tournament at Stamford Bridge that aims to raise hundreds of thousands of pounds for charity.

Marc Thompson, a 44-year-old oil broker from The Avenue, Barnet, had the idea for the event in December 2004 after his friend Michael Holland lost three members of his family in the tsunami.

Mr Thompson's organisation, OilAid, sought 24 businesses to pay $25,000 each to participate in the seven-a-side tournament. Being an avid Chelsea supporter, he convinced the club to provide its ground free of charge.

Attended by hundreds of Londoners and sports stars, OilAid raised £468,378 in its first year for victims of the tsunami and other charitable causes. But Mr Thompson hopes to double that amount on May 15, when the 2008 teams take to the field.

Among the beneficiaries will be Barnet charity Cherry Lodge Cancer Care, which received £10,000 in 2007 and is due to receive even more this year.

Mr Thompson said: "It's a fantastic event. It's completely free and people will have the opportunity to meet famous footballers like Gary Peacock or Jose Mourinho.

"We've also got BBQs, drinks, an auction and lots of other events. It should be a great day, and I'm hoping we're going to raise a huge amount of money for many good causes."

Last year Mr Mourinho raised £23,000 for OilAid by donating his grey coat to the auction. Mr Thompson would not disclose what special items would be on offer this year, but was adamant no-one would be disappointed.

He said: "Everyone is welcome to this event. They should just turn up and find out for themselves."

The event kicks off at 12pm. Visit oilaid.net for more information.