Oxford united FC
Oxford United posts net loss of £17.5m for financial year
The club, owned by Indonesian billionaire Erick Thohir, recorded a net loss for the financial year ending June 2025 of £17.5m, compared with £15.9m in the previous year.
Excluding new stadium development costs, the loss increased from £10.7m to £14.9m, which the club says reflects the higher cost base associated with playing in the Championship.
The club said it remains dependent on shareholder support, with the owners “continuing to invest both on and off the pitch to ensure Oxford United progresses towards its strategic goals”.
Tim Williams, Oxford United’s chief executive officer, said: “The growth of the club’s revenues this year reflects both the strength of our business and the impact of our first year in the Championship.
“With that growth comes increased responsibility to ensure that every decision we make supports our long‑term plans.
“Investment in the men’s team, academy, commercial activities and operations has been essential to competing at this level, whilst we’ve continued to make significant progress with developing our women’s programme.
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“We remain focused on building a club capable of thriving in the years ahead – one that is competitive on the pitch, sustainable off it, and that positively impacts our community.”
Revenue for the year increased by £10.6m, rising from £8.4m in 2023/24 to £19.0m in 2024/25.
Oxford United said the majority of this increase was driven by “substantially higher” central distributions from the EFL and the Premier League which rose from £2.5m in the previous year to £11.5m in 2024/25.
Gate receipts also grew year‑on‑year by more than £1.1m, reflecting increased demand and attendances at Championship level.
Commercial income, including sponsorship and advertising, continued its upward trajectory, rising to £3.3m.
The last year saw the club embark on a successful campaign to get planning permission for a new stadium in Kidlington.
The owners’ total direct investment in the new stadium project is now in excess of £10m.
Oxford United said that playing in the EFL Sky Bet Championship brought with it significantly higher revenue streams.
But it also brought increased costs to the business, resulting in higher sales from £10.3m to £19.2m and administrative expenses increased from £9.5m to £13.3m.
Chairman Grant Ferguson added: “This year has been one of remarkable progress for Oxford United, both on the pitch and across the wider business.
“Competing in the Championship brought new opportunities and challenges alike, and while the financial demands increased significantly, so too did the scale of our ambition.
“Our ownership group has continued to provide unwavering support, enabling us to invest in the playing squad, strengthen our operations, and take major strides forward with the new stadium project.
“We are grateful to our supporters, partners, staff and the wider Oxfordshire community for their continued belief in what we are building.
“The journey is ongoing, and together we are creating a future of which this club can be genuinely proud.”
Cameron Brannagan dispatched the U’s first spot kick since returning to the second tier after Will Lankshear was fouled in the box.
It was late heartbreak though for Matt Bloomfield’s men, Ciaron Brown giving away a 91st-minute penalty which Charlie Kelman slotted away for the Addicks.
A drab first half saw just one shot come in from either side, Jamie Donley putting a free kick from the edge of the box just over the crossbar.
Aidomo Emakhu found an path through to goal earlier on when Lankshear headed the ball centrally and into his path, but the Irish winger was shrugged off the ball by the retreating Harry Clarke.
Charlton held 60 per cent of the possession in the first period but the Yellows held their own, limiting the visitors to very little openings as they failed to manage a shot.
Lankshear held the ball up well when receiving long passes, but did not have quite enough support to find them near him in space.
The second period provided slightly more promise, Michal Helik flicking over the bar from close range.
The unthinkable happened in the 57th minute when Oxford were awarded their first penalty in 675 days.
Lankshear was impeded as Sam Long crossed in, with the referee giving the U’s a penalty for the first time since the League One play-off semi-final second leg against Peterborough United in May 2024.
Brannagan stepped up to take it and slotted it neatly into the bottom left corner to put United ahead.
The U’s almost doubled their lead moments later when Lankshear chipped the keeper, but Lloyd Jones came across to clear off the line.
Charlton began to pick up then, Tyreece Campbell firing a low shot at goal but seeing it blocked.
Still, Oxford tried to hit on the break, Przemyslaw Placheta fizzing a vicious ball across goal which no one was there to meet.
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As the Addicks began to float numerous balls into the box, they won a late penalty when Ciaron Brown grabbed the shirt of Jones who hit the deck.
Kelman stepped up to slot home, scoring after coming off the bench as he did in December’s reverse fixture.
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The draw brings Oxford’s winning streak to end but maintains an unbeaten run of four Championship fixtures.
Oxford: Cumming, Long, Helik, Brown, Currie, Konak (McDonnell 65), Brannagan, Mills (Vaulks 84), Donley (Spencer 77), Emakhu (Placheta 65), Lankshear (Prelec 77)
Charlton: Mannion, Ramsay (Kelman 60), Jones, Bell, Clarke, Docherty (Fullah 82), Coventry (Fevrier 68), Chambers (Rankin-Costello 82), Carey, Campbell, Leaburn
Bookings: Helik, Mills, Brown; Chambers, Clarke, Bell, Rankin-Costello
Charlie Kelman scored from the spot for the Addicks in the 91st minute after Ciaron Brown’s foul on Lloyd Jones saw the referee point to the spot.
The U’s had taken the lead earlier in the second half when Cameron Brannagan converted a penalty of his own which was Oxford’s first spot kick in 675 days and first since returning to the Championship.
“Because of the timing of the goal against, it feels terribly disappointing right now that we haven’t seen it over the line,” Bloomfield said after the game.
“We’ve waited a long time as a football club for that penalty and Cam put it away [well].
“It felt like there was a really good energy in the ground in the second half. I didn’t think we were quite where we needed to be in the first half and we discussed that at half time.
“It was never going to be a free-flowing game today. It was always going to be a highly contested game which I think was what we all watched.
“We needed to be more proactive, it felt like we were a bit reactive in the first half. Right from the kick-off in the second half, I felt like we were that team.
“We had the momentum, got the goal.
“Will had one cleared off the line. Shemmy Placheta and Aidomo Emakhu both had opportunities that we could have possibly done better with.
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“I think if we’d have got the second, the game would’ve been done in our favour.
“At 1-0, there’s always opportunity for the opposition to have a chance and get themselves back in the game.
“We’re obviously really disappointed right now but 10 points in the last four games is a real positive for us.”
Oxford had chances to score from open play over the 90 minutes, whereas Charlton’s converted penalty was their only shot on target across the whole match.
Emakhu was muscled off the ball in a good position in the first half, whilst Will Lankshear had an effort cleared off the line shortly after Brannagan’s goal.
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“We wanted to go and get the second and kill the game off.
“We’ve had those opportunities from open play and unfortunately one didn’t go in. We have to try and stay calm with our reactions so soon after the game when it feels disappointing that we only drew because of the timing of the goals.
“We’d have loved to have won the game today. We’re terribly disappointed that that wasn’t the case.”
Will Lankshear went down in the box after a nudge from Kayne Ramsay, Cameron Brannagan slotting the spot kick away 675 days after he netted the U’s last penalty in May 2024.
Oxford failed to hang onto the lead though, Ciaron Brown pulling on the shirt of Lloyd Jones to give Charlton a late lifeline which Charlie Kelman scored in the 93rd minute.
Addicks boss Jones was not happy with both the penalty decision against his side and his team’s performance.
“Am I happy with the level of performance? Absolutely not, especially second half,” the Welshman declared.
“They didn’t stick to the game plan, didn’t listen to a thing I said at half time, and that’s why we came unstuck and conceded.
“I mean, the penalty, I’ve got to choose my words very carefully, an extremely poor decision.
“Saying that, we showed character, we threatened and we probably looked most likely to have won it in the end.
“[Referees] get swayed by crowds and emotion and don’t just make clear decisions.
“You can’t step outside your technical area because they’re right on you and they’ll give bookings and stuff. It’s the poorest of decisions.”
There were not many arguments about the penalty that Brown conceded for Oxford, with Jones saying: “Only a fool wouldn’t have given it.”
Away from refereeing decisions, the Charlton manager was not happy with his team’s display at the Kassam.
“[The players] just didn’t listen at half time.
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“We played into [Oxford’s] hands. They sit off and want you to play easy, basic, slow tempo football and then they’ll break on you, and that’s what they’ve done.
“We said to [the players], their high line, turn them, get on balls in behind and make them defend, composed in the box, and you’ll get joy.
“We did that for the last 15 minutes and got joy [but] we didn’t do it for 75 and that’s why we were 1-0 behind, as well as the poor decision.”
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The point takes Charlton to 48 points in the Championship and nine above the relegation where the U’s currently lie.
After looking like they might be in the thick of the fight for survival, the Addicks look set to secure second-tier status this season after achieving promotion via the play-offs in the previous campaign.
Meanwhile, Matt Bloomfield’s men sit 22nd in the division, one point from safety with West Bromwich Albion and Portsmouth both a single points above them.
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