The Environment Agency is currently attempting to remove the boat that crashed into Botley Bridge on Monday.
A team of workers are by the river with two heavy goods vehicles in the hope they can winch the boat out of the river.
They are planning to move it into the flipway they have created, which will allow the boat to stay above water level.
The boat belonged to John Simmonds who has since received a £25,000 anonymous donation to repair his boat.
Spokesman Dan Taylor said using a crane to remove the vessel was a possibility.
"We are hoping winching the boat will work and will take it to a safe berth.
"Using a crane is possible but is a last resort as it would cause disruption to Botley Road and would be less cost effective."
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