Oxford Cheetahs owner Steve Purchase has responded to criticism following the price increases announced for next year.

Supporter Brian Hamilton, who has never pulled his punches regarding Oxford speedway over the years, and a leading light in the Support Our Speedway campaign, suggested on the club's website that Purchase was cashing in following a 20 per cent increase in entrance fees.

Purchase, replying on the website, said: "I would have have preferred no increase or at the most £1, but I was determined to keep the 'Kids for a Quid scheme'.

"The sad fact is last year we won the league, Oxford made a modest profit, so that my overall investment (ie loss) is now just £100,000 or so. However, the 'profit' made this year is not a true reflection on financial performance as neither myself nor Vanessa, who works full-time for the club, has received any payment.

"What I do know is that next year, TV monies will be significantly lower due to the lack of a renewal of overseas TV rights. So if I did exactly the same as last year, my profit would halve.

"Also rider costs, my biggest outlay, is continuing to be a challenge with the view (totally incorrect) that British Speedway is awash with TV money. There has been no increase in adult admission prices at Oxford for two years and the TV monies played a major part in that, but that cushion is not available in 2002.

"My second biggest cost is the Stadium rent and this too has increased substantially over the last two seasons. I do not complain about this, as I have very good relations with the Stadium and understand that they are a business. If you look at the investment they are putting in, they want a return.

"So the suspicion that my costs has increased 'little' is incorrect.

"I make no apology for trying to run Oxford Speedway as a business and to make a profit. In that way, the future of the club will be guaranteed and hopefully a profitable club will also gain track success.

"Like it or not, Oxford Speedway is not an ego trip for me and I am not prepared to finance losses.

"I can assure everybody the £2 increase was carefully thought through and was done as part of a three-year plan. However, if somebody out there wants to buy this club, I will never stand in the way of Oxford Speedway or a good business deal."