DARRYL Eales believes the investment which has recorded a second successive loss in Oxford United’s accounts will reap dividends in the medium term.
The latest set of figures, which cover the 12 months up to the end of June 2016, show a £1.8m deficit.
When combined with the previous accounts, a £2.4m loss, Eales has funded more than a £4m shortfall, but the U’s owner is not alarmed.
The cut-off date came just before United sold Kemar Roofe and Callum O’Dowda, which even after a chunk of the money was reinvested in four transfer fees, left £1.4m.
And when it is added to the lucrative cup runs by head coach Michael Appleton, Eales believes United will be in the black this season.
He said: “We haven’t totted everything up, but I would have thought the accounts for the year ending June 2017 will show a profit.
“The underlying loss of the club is about £1-1.5m, but then cup runs help.
“We will have the benefit of (money from) Wembley in the Checkatrade Trophy, which we haven’t received yet.
“It’s another factor that will mean we are probably one of the few profitable football clubs for the year ending June 2017.
“The fundamental point I try to get across is the reason the club is loss-making is because of the investment in the squad.
“My bet is the investment in the medium term justifies the short-term pain of funding the loss – and that’s down to me and my confidence in Michael, the coaching team and the recruitment team.”
He added: “The message from my perspective is the club is in a sound financial position and it is sustainable on the current model.”