Oxford Stadium website down amid update on £2m in debt firm

Oxford Stadium in Sandy Lane has refused to comment on the situation nor offered any clarity about the long-term future of the ground.

Even so, events have been continuing with the Oxford Cheetahs speedway team having won against the Edinburgh Monarchs at the stadium on Wednesday evening.

READ MORE: Oxford Stadium in deal with UK lender amid financial fears

The financial situation at Oxford Stadium has seemingly been perilous for some time with its accounts now almost five months overdue.

The Government does charge private companies for late submission of accounts with the penalty possibly rising to £1,500 if the accounts remain absent.

Greyhound racing at Oxford Stadium (Image: Fortitude)

The racing track – which also hosts greyhound racing – was shown to have creditors worth £2,005,715 at the end of 2023, according to its latest financial statement.

These are short-term liabilities that have to be paid within the 12 months after the accounts are dated.

In its statement for the year to December 31, 2023, it listed £108,077 worth of trade creditors, £68,399 for taxation and social security, £23,180 on accruals and deferred income and £1,806,059 of other creditors.

The total was significantly more than the financial document lists for the end of 2022 when its short-term creditors was listed at £1,260,559.

Oxford Cheetahs (Image: Supplied)

In early May a post on Companies House showed that a deal had been agreed between the stadium and Bizcap Limited, which will see the assignment of book debts to the lender based in London.

This means that Oxford Stadium’s outstanding customer invoices will be transferred to Bizcap UK in exchange for immediate cash flow.

Part of a global non-bank business lending organisation, Bizcap UK says it specialises in offering “fast and flexible” funding to small and medium sized businesses.

On May 21 a new update was posted changing the registered office to an address in Oxton, not far from Nottingham.

Kevin Boothby is the managing director of Oxford Stadium (Image: Fortitude Communications)

This is the second time this year the company has changed its address.

In addition to its long-term financial issues, in April Sports Information Services decided to stop covering greyhound racing at the stadium.

This was due to financial difficulties, and it also impacted Oxford Speedway, which uses the venue.

READ MORE: Oxford Stadium £2m in debt and 2 months late on accounts

However, later in the month Oxford Speedway said its long-term future at the BetGoodwin Oxford Stadium was ‘secured’.

Jamie Courtenay, promoter for Oxford Speedway, said he was “delighted to confirm that following extensive negotiations the long-term future of Oxford Speedway at the BetGoodwin Oxford Stadium is secured”.

Two new investors joined the team, both “major sponsors” since 2022 and “already a huge part of Oxford’s success story”.