Oxford United chairman Dusan Bogdanovic has extended a heartfelt apology to supporters following the club’s imposition of a temporary transfer embargo by the English Football League (EFL).
The League One club will be unable to register new players during the summer transfer window due to non-compliance with the EFL’s salary cost management protocol (SCMP) regulations.
In an open letter to fans, Bogdanovic expressed his awareness of the trust placed in the board and shareholders, acknowledging that such developments could cause doubt in their relationship with supporters.
“Our shareholders remain fully committed to the club and will continue to provide support as they have consistently done throughout their ownership,” he stated.
The SCMP protocols serve as the financial fair play guidelines for all clubs in League One and League Two, establishing restrictions on spending related to player costs in relation to a club’s turnover.
Having been relegated from the Championship in April, Oxford is now back in League One and recently appointed former Arsenal and Wales midfielder Aaron Ramsey as their new head coach.
In his letter, Bogdanovic said, “I want to sincerely apologise for the uncertainty and concern caused by the news of our registration embargo. Over recent seasons, we have had to rapidly adapt to the demands of competing in a higher division and the increased funding it necessitated.”
Despite their best efforts, he noted, they were unable to maintain their Championship status and are now facing the obstacles of elevated costs, reduced revenues, and new financial regulations.
Bogdanovic reassured fans that acquiring a new stadium remains central to their long-term strategy, expressing optimism for the future. “We have an outstanding head coach, a talented squad, an incredible supporter base, and shareholders who have consistently shown their commitment to Oxford United,” he stated.
“Together, we have navigated challenges in the past, and we will do so again. The future of Oxford United is bright, and our ambitions remain steadfast. This is a short-term hurdle that requires a pragmatic response, allowing us to emerge stronger.”