The Yellows were hit with a temporary registration embargo by the EFL in July after failing to comply with Squad Cost Management Protocol (SCMP) regulations, meaning the club were not able register any players signed involving a fee.

SCMP sets limits on the proportion of a club’s turnover and owner funding that can be spent on player-related costs, with the club working to align their financial position with the League One requirements.

Oxford managed to recruit two new players after being hit with the embargo with both not involving any extra cost to the club and requiring special dispensation from the EFL.

Head coach, Aaron Ramsey, was able to add Premier League names in Coventry City midfielder Kai Andrews and Aston Villa winger Luka Lynch in on loan in the final few days of the summer transfer window.

Speaking to BBC Radio Oxford’s podcast ‘The Dub’, Waldron offered further explanation on the club’s current situation, saying: “The ownership group have invested heavily over the last four years to elevate the club.

“There’s been investment across the entire club.

Oxford United midfielder Kai Andrews on loan from Coventry City (Image: Oxford United)

“In January, the club made the decision to invest further to try and boost our chances of surviving in the Championship.

“We fell short of that, but I really believe we signed a lot of good players that will help us now and in the future.

“Relegation coupled with a few changes within the regulations have kind of left us where we are.

“It’s taken a lot of time to understand what’s what was possible within those regulations, and it is unknown territory for everybody.

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“We were told, as fans were told, that this would take time, but…we’d be working towards being mobile in the market come January, and that hasn’t changed.

“Money has been coming in as expected, which works towards the SCMP issue and the intentions from the owners and the board.”

The U’s have seen the breakthrough of academy products, particularly 18-year-old Mo Missanga and striker Gatlin O’Donkor.

With excitement surrounding these names, there is naturally a clamour to secure new contracts, however the current embargo provides an obstacle

Oxford United right back Peter Kioso (Image: Oxford United)

“Unfortunately not, no” Waldron confirmed when asked if United can offer new contracts whilst under embargo.

“[When] we’re out of the registration embargo and compliant with SCMP, then we can look at retention of players.

“With Mo, as it is with a number of academy players, we’re in a really strong position contractually.

“The club’s protected and, right now, we can’t do what we’d like to do, but that doesn’t mean that we’re going to lose these players in January for a pittance.

“We’ll work towards that when we come out of the embargo.”

The Yellows majority shareholder, who is also Minister for Youth and Sports in the Indonesian government, recently confirmed an agreement between Dutch giants Ajax and Indonesia’s national football association.

The agreement will see the rollout of a nationwide programme that aims to develop footballer in Indonesia based on the Ajax coaching philosophy.

The Amsterdam-based club, who have four UEFA Champions League trophies to their name, will train coaches throughout Indonesia with the country’s FA investing ‘seriously’ in football development.

United owner Thohir said in a statement on Ajax’s website: “Football is the number one sport in Indonesia, but we must acknowledge that we still face challenges in our youth development system.

“This is what we want to continue learning from and adapting from the successful system in the Netherlands.

“We are therefore proud to establish this partnership with Ajax, a major club with a proven development philosophy and a special historical relationship with Indonesia.

“Through Ajax’s knowledge and experience, we can take an important step towards improving the quality of coaches and football talent in Indonesia.”

Indonesia now becomes part of the Dutch side’s international football network which includes clubs from Mexico, Austria, Italy, Spain, Greece, Uzbekistan and Japan.

Due to Oxford’s owner having such influence in Indonesia, the U’s have recently seen players from the nation join the club.

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Marselino Ferdinan and Ole Romeny, two national team stars, have represented the League One side, with the former currently out on loan in the Netherlands with Fortuna Sittard.

United have had a tricky summer with board-level changes seeing a new chairman appointed in Dusan Bogdanovic, Grant Ferguson stepping down and into a board role.

A temporary registration embargo followed after the club failed to comply with Squad Cost Management Protocol (SCMP) regulations.

Further comment on the Indonesia and Ajax partnership was given by the club’s CEO, Menno Geelen: “We want to maintain our position as one of the best talent developers in the world and share our knowledge in markets that are relevant.

“Indonesia is such a market: large, with tremendous potential and a huge passion for football.

“We have been in contact for a number of years now, and we are proud to be able to build on our relationship with Indonesian football and contribute to the further development of the sport in the country.”

The Yellows midfielder opened the scoring after 76 minutes at the Kassam Stadium, swiping home Mo Missanga’s cut-back cross from close range.

Dembele went on to assist Louie Sibley’s 90th-minute goal before Gatlin O’Donkor bagged a stoppage-time third to secure a first home League One victory of the season.

After a season of struggle last year – he was left out of the squad entirely in the second half of the campaign – the 30-year-old is back in the fold under new head coach Aaron Ramsey.

“I never doubt myself whatsoever because I know how talented I am when I play,” Dembele declared after the win over Burton.

“People will see at some point.

“From the minute [Ramsey] got here, he showed his appreciation for how I play and wanting to get me involved in the game, to be able to affect games.

Oxford United players celebrate Siriki Dembele’s opening goal against Burton Albion (Image: Oxford United)

“But to also use my qualities to help the team which will also show. Whereas, I think before, that was not really the case.

“Since he’s come in, it’s getting the best out of myself in a sense.

“He’s obviously known my qualities before and he’s someone that clearly appreciates it and he’s obviously playing me now, which is nice.

“You’re not going to be everyone’s favourite but he’s someone that obviously trusts me and likes the way I play and that allows me to show my qualities and help the team.”

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Dembele’s goal was his first since scoring in a 1-0 win over Sheffield United at home in April 2025 as Oxford secured survival in the Championship under Gary Rowett.

His strike against the Brewers on Saturday was his first in front of the East Stand and felt like it had been coming this season after promising performances for Ramsey’s Yellows.

“Things change very fast in football,” the former Birmingham City and Bournemouth man reflected.

“Sometimes you can be out of the picture and then, in the blink of an eye, you can be the best player in the league.

“I think you’ve just got to be relentless in how you see yourself, how you approach life and how you approach the game. Everything else is without your control.

Siriki Dembele (right) battles for the ball against MK Dons (Image: Oxford United)

“You want to play every single game and whenever you do play, whoever that is, you give your best.”

The U’s have risen to fifth in the table after the recent win, with a game in hand.

“It’s been good. No-one’s getting carried away though. It’s a long season.

“It’s important to just build momentum”