Oxford United have been installed as red-hot favourites to win next season's Blue Square Premier by the sponsors.

Jim Smith's side are as short as 4-1 to clinch the crown, and just 9-4 to win promotion.

Despite a well-publicised big cut in the playing budget, Blue Square are confident that the U's can put the disappointment of missing out on promotion last season behind them.

Oxford were a best-priced 6-1 at the same stage last season.

The firm list Smith's side as 25-1 outsiders to suffer relegation.

Stevenage Borough, who were favourites to lift the crown 12 months ago, are next best at 11-2 for the championship and 11-4 for promotion.

Relegated Torquay are quoted at 7-1, with play-off final losers Exeter - who ended Oxford's promotion hopes - at 15-2.

York and Burton are next best at 11-1 and 12-1 respect- ively.

Kidderminster, Rushden and Boston are the only three other clubs fancied to challenge for the title, with the remainder priced at 25-1 or over.

There are some new names in the list for Oxford supporters, not least Ebbsfleet United, who were formerly Gravesend & Northfleet.

Droylsden, Histon, Salisbury City and Farsley Celtic are the other four new clubs in the league following their promotions.

Farsley Celtic are evens favourites to suffer relegation, with Stafford Rangers and Crawley Town the others fancied to struggle the most.

Interestingly, clearly nobody is sure of the fortunes awaiting relegated Boston.

The troubled outfit, who saw manager Steve Evans quit at the weekend, are priced at 16-1 for the title, but only 4-1 to be relegated.

Meanwhile, Kris Grebis, the Latvian striker who failed to make any sort of impression at Oxford United, has returned to Latvia and signed for FK Ventspils.

The 26-year-old made just four appearances for the U's before having his contract cancelled by mutual consent in March.

Grebis finished as the fifth highest scorer in the Latvian League in 2005-6.

Martin Foster is a free agent after Halifax decided against offering the midfielder a new deal.

Foster, who spent the last four months of the season on loan at Oxford, is believed to be talking to a number of clubs over a possible move.

Foster joined Halifax from Forest Green in July 2004.

Former Oxford United midfielder Dave Savage has joined Brackley Town.

The 33-year-old was released by Rushden & Diamonds at the start of the month, and wanting to stay close to his Northamptonshire home, has opted to drop a further two divisions.