Chris Ollerenshaw, from Dukinfield, Greater Manchester, was the successful bidder with £15,102.03 when the e-Bay auction finished on Saturday.
On Sunday he handed over the cheque to its previous owner Brian Bateson at Blackpool Airport where it has been stationed for the past 21 years.
Mr Ollerenshaw plans to site the plane behind his pub, The Snipe Inn.
"I'm not really sure why I bid for it, we've been to Blackpool so many times and passed it," he said.
"I am very pleased. We didn't think we would get it."
The father-of-three said: "I'm scared stiff of flying; perhaps it is as well it is staying on the ground."
Mr Ollerenshaw hopes the bomber, which last saw service when it was on standby on Ascension Island in the Falklands War, will be an attraction at his pub.
But his family have mixed feelings about the 40-ton jet with a wing span of 120 feet.
"It's barmy, I can't believe he's done it," said his wife Bev, who placed the bid on e-Bay for him.
But she added: "I'm glad for him."
Former owner Mr Bateson, who paid £6,000 for it, said: "I think the airplane, especially with a new owner who will give it some TLC, will be a new attraction somewhere else."
BBC online