OXFORD United have issued £2 million worth of new shares, a document on Companies House has revealed.
Football finance expert Kieran Maguire told this newspaper that the issuing of new shares is common among clubs.
He said: “It’s either fresh cash to tide the club over the summer or loans due to the owners written off and being converted into shares.
“For every £1,000 of new shares, clubs can spend £1,000 on wages.”
READ ALSO: Liam Manning hopeful Oxford United can sign ‘one or two’ before trip to Spain
The statement of capital document published on Companies House shows that just over £7m of shares have now been issued by United.
In March, the U’s reported a loss of more than £4m for the 2021/22 financial year.
The £4.2m loss was an increase of half a million pounds compared to the previous year.
Following the publishing of those accounts, United posted a statement confirming the £4.2m loss was ‘fully funded’ by the owners.
The club said: “That loss was fully funded by the ownership group who remain committed to the club and will continue to support it financially.
“The club are now putting in place steps to ensure future financial sustainability.
“On this basis, in the short to medium term, this may require further shareholder investment.”
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About the author
To sign up to Liam’s latest Oxford United newsletter for free, click here: https://www.oxfordmail.co.uk/newsletters/
Formerly the politics reporter for the Oxford Mail, Liam now covers all things Oxford United.
Liam attends the U’s home and away, as well as covering other big sports stories across the county.
His Oxford United newsletter is released every Saturday morning at 6am.
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