OXFORD United’s annual losses went up to more than £1.4million in the year ending June last year.

The latest set of accounts were published today and show they were in the red to the tune of £1,449,359.

It was more than £300,000 higher than over the previous 12 months and the third year in a row the club lost in excess of £1m.

The losses were covered by parent company Woodstock Partners Limited, whose outstanding loan to the U’s went up from £6.1m to £7.5m.

The figures cover the year up to June 30 last year, so end a week before Lenagan sold a stake to Darryl Eales, who took over as chairman.