Oxford Stadium appear to be bucking the trend that saw the GRA suffer severe losses in 2007, according to figures quoted in the Greyhound Star this month.

Consolidated losses after tax were £1.4m, and this before the current economic downturn. With GRA Acquisitions Ltd having to renegotiate the £52m loan they took out to buy the GRA, that expires in March next year, it makes the immediate future a little gloomy.

Last year, attendances were down ten per cent on 2006, restaurant covers dropped 25,000 – a fall of 9.6 per cent, and profit after taxfell to £174,000.

Stephen Rae, spokesman for the GRA, said: "The owners Luke Johnson and Risk Capital have been incredibly supportive. We are not their only business in the leisure market and they recognise that everyone is having a tough time.

“That said, we are not panicking and do need to be prudent and there may be some difficult decisions to make."

Meanwhile, general man-ager Maureen Ridley says Oxford are still above budget and although there have been cancellations in the executive suites due to the credit squeeze, covers in the restaurant this month have exceeded 3,000 and another 500 are booked for the excecutive suites.

Only last Friday (a non-race night) she took a booking cancelled elsewhere from Banbury/Oxon Motor Cross Awards with more than 300 attending.

She is organising an end-of-the-year party, which is being held on December 30 where for £15 adults and £5 children there will be three hours of live racing, three-course meal, a free drink, firework display and disco.