Oxford United set to make £450,000 loss

First published in Sport The Oxford Times: Photograph of the Author by , Chief Sports Reporter covering Oxford United. Follow us on twitter: @oxfordmailoufc. Call me on 01865 425458

A DECREASE in attendances at the Kassam Stadium this season has contributed to expected losses for the year at Oxford United of about £450,000.

Average gates are down 20 per cent from last season and have come at a time when the club have spent more than expected on the playing budget and paying off debts.

Ian Lenagan estimates £865,000 was invested by his family between July and December last year to keep the club ticking over.

The U’s chairman is keen to stress that while the situation is worse than expected, there is no reason to panic.

He said: “Financially, it’s not been the best of years, I have to say.

“We’ll lose probably £450,000 this year in terms of profit and the rest of the investment is either in forward investment or stuff we’ve paid off from the past.

“That just means our stake in the club is higher in terms of investment.

“It’s not out of control, it wasn’t out of control when I took over.”

“Every time £100,000 or £200,000 worth of gate receipts don’t come in, then either the club goes bankrupt or we put the money in.

“We’re into Oxford United for the medium and long term and this is a difficult year, because we’ve got losses that we weren’t expecting, in addition to losses we were expecting.”

Just under half of the extra investment has gone to cover non-recurring costs such as paying debts.

The playing budget is £200,000 higher than anticipated, due to the number of loans required to cover injured players, while £100,000 has gone on backroom staff and other investment.

The rest is down to shortfalls in revenue on gate receipts, with average crowds falling from 7,615 in the last campaign to 5,977 this season.

Lenagan urged supporters to come out in force for the remainder of the season.

He said: “I’ve proven I’ll put my money into it and the Lenagan family money into it.

“Any money that comes in from season tickets and increased attendances goes towards the development of the club.

“We’re not making a profit, so it can’t come out to me, it’s going into the club.

“I would appeal that people come in their thousands because the quality of the football we’re playing, the effort the team is putting in on the pitch, is very strong indeed.

“We can be proud of Oxford United again because of where we’ve clawed our way back to. I’d just like people to help a bit and shout a bit more.”

Comments (9)

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11:19am Thu 31 Jan 13

Joe1 says...

Not really suprising, when you see the way we have been playing plus the general downturn since 2008. The costs of using K---------m's ground has also contributed.
What is going on re joint venture with the Rugby club?
Not really suprising, when you see the way we have been playing plus the general downturn since 2008. The costs of using K---------m's ground has also contributed. What is going on re joint venture with the Rugby club? Joe1
  • Score: 0

11:51am Thu 31 Jan 13

BartSimpson_ox says...

Play crap football and that's what you get. Also it's to expensive, drop the price and you might get more to attend.
Play crap football and that's what you get. Also it's to expensive, drop the price and you might get more to attend. BartSimpson_ox
  • Score: 0

3:49pm Thu 31 Jan 13

LeGod says...

You said it you play crap football and you chavs dont turn up.
You said it you play crap football and you chavs dont turn up. LeGod
  • Score: 0

4:37pm Thu 31 Jan 13

35 year fan says...

thank you guys your financial support is appreciated. the injuries have been costly for all of us. onward and upward.
thank you guys your financial support is appreciated. the injuries have been costly for all of us. onward and upward. 35 year fan
  • Score: 0

6:15pm Thu 31 Jan 13

bigchet says...

surprised that le god has made time to post on our site after all the weeping and wailing coming from wilts about the fire sale of their best player. the chairman of banbury may have money problems and is downsizing so he can use stfc as a feederclub for banbury.not so long ago the town fans were boasting about the unlimited funds the club had at its disposal but this week had to sell to pay the wages. as always big promises dont always happen.
surprised that le god has made time to post on our site after all the weeping and wailing coming from wilts about the fire sale of their best player. the chairman of banbury may have money problems and is downsizing so he can use stfc as a feederclub for banbury.not so long ago the town fans were boasting about the unlimited funds the club had at its disposal but this week had to sell to pay the wages. as always big promises dont always happen. bigchet
  • Score: 0

7:23pm Thu 31 Jan 13

BartSimpson_ox says...

Injuries???? We have heard that excuse every season. I didn't know Oxford was the only team that had them! Doh
Injuries???? We have heard that excuse every season. I didn't know Oxford was the only team that had them! Doh BartSimpson_ox
  • Score: 0

8:43am Fri 1 Feb 13

AylesburyOx says...

Play better football and I might turn up more often
Play better football and I might turn up more often AylesburyOx
  • Score: 0

10:12am Fri 1 Feb 13

Budowaah says...

I think it's justifiable to say that the £450k loss is partly due to the decrease in 'fair weather' fans who have no time for tribulation.

I'll admit to knowing little about this, but surely it's a better idea to move out of the Kassam until the team find their way?
I think it's justifiable to say that the £450k loss is partly due to the decrease in 'fair weather' fans who have no time for tribulation. I'll admit to knowing little about this, but surely it's a better idea to move out of the Kassam until the team find their way? Budowaah
  • Score: 0

11:19am Fri 1 Feb 13

The Good Ship Hardy says...

bigchet wrote:
surprised that le god has made time to post on our site after all the weeping and wailing coming from wilts about the fire sale of their best player. the chairman of banbury may have money problems and is downsizing so he can use stfc as a feederclub for banbury.not so long ago the town fans were boasting about the unlimited funds the club had at its disposal but this week had to sell to pay the wages. as always big promises dont always happen.
Bournemouth have got a bargain whatever way ST fans look at it. However ST did have with them training, but never signed, LM as a keeper of course. Some Oxford fans who were vocal at that time have now gone quiet. Reading the forums some U's fans are threatening boycotts from games as a protest to LM's signing, That will add to the 20% gates reported as being already down. Be interesting to see how many home fans show next week and their reaction. Rovers fans will have a field day for sure.whether he is on the bench or whatever.
[quote][p][bold]bigchet[/bold] wrote: surprised that le god has made time to post on our site after all the weeping and wailing coming from wilts about the fire sale of their best player. the chairman of banbury may have money problems and is downsizing so he can use stfc as a feederclub for banbury.not so long ago the town fans were boasting about the unlimited funds the club had at its disposal but this week had to sell to pay the wages. as always big promises dont always happen.[/p][/quote]Bournemouth have got a bargain whatever way ST fans look at it. However ST did have with them training, but never signed, LM as a keeper of course. Some Oxford fans who were vocal at that time have now gone quiet. Reading the forums some U's fans are threatening boycotts from games as a protest to LM's signing, That will add to the 20% gates reported as being already down. Be interesting to see how many home fans show next week and their reaction. Rovers fans will have a field day for sure.whether he is on the bench or whatever. The Good Ship Hardy
  • Score: 0

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