OXFORD United's managing director Keith Cox is to stay on - because the club have found a way of paying his wages.

At last month's open meeting with fans, Cox set a deadline of the end of February to sort out some of United's serious financial problems.

He claimed he hadn't been paid for three months and insisted he could not continue working on that basis beyond the end of this month.

But Cox says now that the meeting was subsequently misreported in the Sunday Express, among others, and he did not say he would be leaving if United had not resolved financing the new stadium.

"What I actually said was that I couldn't allow a situation to occur with a date beyond which I wasn't being paid.

"There still does not exist a basis where I can be paid on a week-to-week arrangement. However, the club have been able to pay an invoice to the law firm for which I work which relates to the summer of 1996.

"Members of the board accept this is due and overdue."

It's believed some of the money from the sale of players - Nigel Jemson (£100,000 to Bury) and Darren Purse (£600,000 to Birmingham) - has contributed to the settlement of this invoice.

"I couldn't carry on without being paid, but that has been partly resolved. I don't think I'm wasting my time. I'm hoping we can go forward.

"While there's a basis that I can resolve this situation, I will continue. What you can take is that I'm not leaving yet."

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.