Down to business for new U's boss

Why has this change happened? Nick Merry has been under a lot of pressure. It was a decision reached by Woodstock Partners and the Oxford United board — and Nick Merry was part of those discussions. They gave me their backing to come in and take over the pressures of chairmanship. Nick has stood down as chairman, but is on the board of directors and is still a stakeholder in Woodstock Partners.It's now up to me to get the club on a sound financial footing — but more importantly to get us through our short-term problems.

What does this mean for the club's finances? The club has financial issues — now is the time for Oxford people to step up and help the club — we need backing from everyone.

What about Ian Lenagan's future and that of Woodstock Partners? Ian Lenagan will continue in the same role. Woodstock Partners have funded the club for the past two-and-a-half years and will continue to support the club, but the time has come to attract new investment. They remain the owners, however.

Is this the start of Woodstock Partners trying to pull out or sell the club? No. It is the realisation that Woodstock Partners cannot continue just to fund the club. Our medium and longer-term outlook is positive — but the short term is crucial.However, we have to be realistic, because we have short-term financial needs. We have to consider having discussions with any relevant company who have the potential to take the club forward.

Could this be done by the fans? We have met OxVox today. We're keen to involve the fans as much as possible on this, because the concerns of OxVox are the same as those of our fans. We have to communicate our ideas to them, which we have not done well enough in the past.

Administration has been discussed in the past couple of weeks. How close are Oxford United to this, and does this change make it more or less likely to happen? My role is to ensure that finances are assured. Obviously, administration is always a possibility when a club is in financial difficulty, but administration would not be helpful to either Oxford United or Woodstock Partners. We will do everything in our power to make sure this does not happen.

Is Nick Merry's departure down to pressure from fans, the team's performance or the inability to buy the stadium — or all of them? I feel it's crucial that fans understand that Nick Merry has spent every minute here devoting his time, energy, efforts and finance in trying his best for this club. People have to understand that this is bound to take its toll on you. He has given his all for the club — I certainly don't think it has been through pressure from fans, because considering all the problems at the club, the supporters have been magnificent in trying to help us. He has put his heart and soul into everything — not many chairmen would consistently turn up to watch training as well as youth team and reserve matches week in, week out.

When was everything decided? It was only decided on Thursday morning. It had been discussed for the last few months — not me taking over, but the fact that Nick might step down, to relieve some pressure on him.

The club's finances are clearly not healthy and the team's league position is precarious. What are your priorities? The priority, in the short term, is to attract new investment and ensure that our finances are secured. We want to secure additional funding, but obviously the remit of the chairman is to look at all areas. We're not in dire straits, but we do have short-term issues. Regarding the team, we will be sitting down with Darren Patterson and finding out what we can do to improve our position.

What can you do that Nick Merry couldn't? What are your strengths? I showed in the first year here that I can run the club efficiently and effectively on a day-to-day basis. I was responsible for the budget and we were £100,000 under that budget at the end of the season. We had a good season on the pitch, and were just one kick away from Wembley. I'm confident I can secure more funding and keep good, and regular, contact with fans here. I feel that last point is vital.

Have the team and manager been informed? Darren is aware of the situation and we have had discussions with him today. We all know we have to start winning matches. We will be talking to the team today.

Does this job mean you will be leaving America? Yes, I'm here now. It shows how determined I am that I have given up what I had in America. Obviously, I will be returning on a regular basis, but that will not stop me from doing my job with Oxford United.

Are you injecting any funds yourself? No, this is an executive chairman role. I have skills to bring to the table which will help find finances and take the club forward.

Does your role include taking on the bulk of the negotiations with Firoz Kassam? Yes. I spoke to Firoz as soon as it was decided I would take over. We had a very good chat, and Mr Kassam was very helpful in us meeting our short-term needs in our ability to pay the rent. I feel that a mutually-beneficial and co-operative relationship with Mr Kassam is fundamental to the acquisition of the stadium and conference centre, which is key to becoming independent and self-sufficient.

Hand on heart, will Oxford United be around in 12 months? Yes, I'm positive about that. I'm here to do everything for the club. I will fight to make sure that there's not just a club here in 12 months, but in 12 years and for many, many years after that. And by then, the club will be an independent, self-sufficient club that's not reliant on any third parties.

• Two people were notable by their absence at the official unveiling of Oxford United's new chairman yesterday, writes George Hamilton.
• Neither Nick Merry, nor Ian Lenagan took seats alongside new chairman Kelvin Thomas, director Jim Smith, secretary Mick Brown and youth and community development manager Simon Lenagan at a 45-minute press conference at the Kassam Stadium.

Reporters were told the joint owners of Woodstock Partners were at a business meeting in London.

Mr Thomas insisted the idea of his elevation from director of Oxford United to chairman had first come from the pair and that his job was to get on with "resolving the short-term financial anxieties". However, when asked when Mr Merry had first suggested a change, Mr Thomas said: "That wasn't brought up in discussions a couple of months ago — that was brought up more recently."

Jim Smith said: "It's a big disappointment. He sees changes have to be made to make progress as a club. He feels the best way for that to happen is to step down."

After the conference, Mr Smith revealed he had met Mr Merry for coffee at the King's Arms in Woodstock at 8.30am yesterday and said he had only been told about the new appointment over the phone half-an-hour before.

He said: "I was shocked, because I knew how much it meant to Nick."

Mr Merry is expected at tomorrow's match against Rushden & Diamonds.