BEING the chairman of a football club is a thankless task.

When a team is doing badly, the chairman and the board are targets for everything ill within the club.

And, when things are going well on and off the pitch, then the players and the manager get the plaudits. If the board ever gets considered at this point, it is usually from those who demand even more money to be pumped into the team.

Kelvin Thomas is well-regarded by Oxford United fans and that is only likely to increase this morning when they read of the upswing in the club’s financial fortunes over the past 12 months.

It has moved from an £825,000 loss in the 2008-09 financial year to a profit this year, according to Mr Thomas.

And significant in-roads have been made into debt. Even without the sell-on money generated through Dean Whitehead’s transfer, the club would still have recorded a profit.

Not long before Mr Thomas was appointed, there were concerns about the club’s finances.

While a successful season on the field under Chris Wilder has been a major contribution, Mr Thomas and his management team have done an admirable job providing a solid base for the team to achieve what it has.

We hope the club as a whole continues the upswing – securing ownership of the Kassam Stadium and consolidating its League status.