OXFORD, the reigning Conference League champions, have been forced to scrap their academy team for this year.

The shock news comes after Oxford Academy's promising youngsters were sold by former Oxford owner Nigel Wagstaff to an undisclosed Elite League promotion.

Oxford promoter Aaron Lanney had bid for the lads with the aim of keeping the club in the Conference League.

He said: "I am gutted that these promising youngsters have been sold like this as I wanted to carry on the fine work that Nigel Wagstaff had started.

"I had already spoken with many of the young riders and their parents, and was very excited about the season ahead.

"I was aware of the extra costs of running a Conference team, but felt that this fine group of youngsters would progress, and I hoped that many of them would step up into the Cheetahs first team when they were ready.

"To lose them all like this is a real body blow and another in a catalogue of events that have hampered my efforts to take Oxford Speedway forward.

"I sincerely apologise to the fans of Oxford Speedway, as I did announce that I would be running a Conference side this coming season.

"I did hope that I would at least receive some assistance from the BSPA with regards to the youngsters, but unfortunately, circumstances dictated that they be made available to the highest bidder.

"I will now concentrate my efforts on introducing new young riders and arranging second-half races to follow the senior meetings, with a view to returning to Conference League action in 2007."