Transfer Window 26/27 Summer Embargo Window

[SteMerritt]

 

[Billyox]

Just going back to owner funding, I believe I'm correct in saying that the 65% for year one relegated teams applies to equity injection too.

The EFL Handbook explains that it's
"the Club’s Allowable Injection Income for the Reporting Period multiplied by
the Relevant Percentage".

The EFL defines 'relevant percentage' as:

(a) For League One Clubs - 50%.
(b) For Former Championship Clubs – 65% for its first Season in League One only.

I see lots of talk of 50% for equity injections, but surely that's after year one for us?

You are correct

There was genuine confusion because the EFL’s May 2026 announcement described equity injections as being included at 50%,

 

[Sheik Djibouti]

Pretty much we got caught up in a perfect storm with efl changing the rules
The owners had choices.
They could have put in enough qualifying equity immediately.(stupid as it wouldn't solve the problem just push it down the road)

They could reduce the wage bill.(done)

They could generate player trading income.(done)

They could increase turnover.

Or, realistically, use a mixture of all four.(which we appear to of done)

Who knows but what we do know is he stuck around when there was delays with dc united stadium

If the stadium became impossible, that could absolutely affect the owners’ long term appetite for Oxford United. Nobody can sensibly pretend otherwise.
But that still does not mean a delay in the stadium automatically means they stop funding the club next week.
That part is speculation.

So I’d separate the two

The SCMP problem is a current financial rules problem that can be fixed by changing the club’s numbers.
The stadium is the much bigger strategic question that could influence how long the owners want to remain involved.
Related in the bigger picture, yes.
The same problem, no.

Thanks Billy - appreciate your time to answer this comprehensively.

I think the only conclusion I can draw currently is, firstly the SCMP rule change was ill-concieved at best and very poorly thought through. Whilst the sentiment might be well intended, #teamslikeoxford would ALWAYS (pretty much) fall foul of such draconian rules on relegation from the Champ, given our combination of low turnover, looseness of purse strings/generous allocation allowance in the Championship.

As you say, the rest is all speculation . . .but you have to wonder don't you! Those who lived through the dark days of the mid/late 90's and the impact that has had on the club for most of the last 30 years, still bear the scars and must be just a little bit concerned about history repeating itself.

 

[Billyox]

Thanks Billy - appreciate your time to answer this comprehensively.

I think the only conclusion I can draw currently is, firstly the SCMP rule change was ill-concieved at best and very poorly thought through. Whilst the sentiment might be well intended, #teamslikeoxford would ALWAYS (pretty much) fall foul of such draconian rules on relegation from the Champ, given our combination of low turnover, looseness of purse strings/generous allocation allowance in the Championship.

As you say, the rest is all speculation . . .but you have to wonder don't you! Those who lived through the dark days of the mid/late 90's and the impact that has had on the club for most of the last 30 years, still bear the scars and must be just a little bit concerned about history repeating itself.

I think you will see a change to these rules come next summer to late for us now even the loan signings appear to of been a change of rules to allow us to do it

If your meaning in your last part the separation of club to stadium we are pretty well protected in the lease agreement with Oxfordshire County Council
I also think the new independent football regulator will also get involved on that side of thing too

 

[Sheik Djibouti]

I think you will see a change to these rules come next summer to late for us now even the loan signings appear to of been a change of rules to allow us to do it

If your meaning in your last part the separation of club to stadium we are pretty well protected in the lease agreement with Oxfordshire County Council
I also think the new independent football regulator will also get involved on that side of thing too

In the last part, I was meaning how close we came to never having a club at all in the 90's. Kassam rode over the hill, took us on a journey, and is the root cause of much of the stuff that has happened in the intervening years.

 

[Osleroad]

I'd say that several owners like ET have much larger concerns/interests particularly in Indonesia with establishing strong sport foundations. We must be just one of those 'nice to have' elements. What is disturbing is that it is said that Hull looked at £150m spent by Sunderland in Prem and thought wherefore they go... which has knock on effects for the Champ should we ever get there again.

 

[Banbury2018]

I think you will see a change to these rules come next summer to late for us now even the loan signings appear to of been a change of rules to allow us to do it

If your meaning in your last part the separation of club to stadium we are pretty well protected in the lease agreement with Oxfordshire County Council
I also think the new independent football regulator will also get involved on that side of thing too

If the PFA win the case against the EFL it currently has I suspect the rules or at least some of those rules will be withdrawn and the EFL will have a large problem eg OUFC. I also think some of what’s gone on would’ve still happened regarding trimming the squad size down with about four signings.

 

[Billyox]

If the PFA win the case against the EFL it currently has I suspect the rules or at least some of those rules will be withdrawn and the EFL will have a large problem eg OUFC. I also think some of what’s gone on would’ve still happened regarding trimming the squad size down with about four signings.

If the new SCMP amendments are ruled unenforceable, what happens to Oxford's embargo, which exists because Oxford were assessed against those very amendments?
That could become an extremely awkward question for the EFL.

 

[Symp59]

Mbick was under 10 when he joined Charlton. And as you say they've also spent a lot more than we did in the Championship, so I'm not sure that's completely fair.

Fair enough ,but my real point is if you are in the championship youre players value should go up ,we certainly got players in but nearly all of them have been offloaded for nothing ,if we get our money back on BDK it will be a miracle, yes Stan we made a profit . But surely if we brought players in using the nouce that other teams have [recruitment] you are going to sell someone for near £10 million its been a total shambles which ever way you dress it up. Iam amazed Ed is still here

 

[Sheik Djibouti]

If the new SCMP amendments are ruled unenforceable, what happens to Oxford's embargo, which exists because Oxford were assessed against those very amendments?
That could become an extremely awkward question for the EFL.

Which is why they will do everything possible to stop it progressing. It's not about being mean to or having a vendetta against Oxford, it's about their "reputation" and we just happen to be acceptable collateral damage in their scramble to protect it.

 

[Jster]

23 players excluding keepers and kids I think.

We must be well below that? In league one even young loanees don't count, is that right?

 

[holdsteady]

We must be well below that? In league one even young loanees don't count, is that right?

I thought we were about on it but with all the embargo/staffing up rules its hard to keep up.

 

[Marked Ox]

We must be well below that? In league one even young loanees don't count, is that right?

Correct u21s don't need to registered under Lg 1 squad rules, even loans (unlike the Championship). Can register up to 22 senior players (21 or above). Keepers are excluded.

Looking at the players listed on the website, I make it 18 players assuming Frankie Kent isn't registered for this part of the season.

 

[RgYellows]

In my view, the rules are punishing us for doing something that they wanted to stop us doing. We were spending more on players than was deemed reasonable, given our revenues, and the shortfall was covered by debt - which they wish to discourage.

The unanticipated bit was how we reacted - basically saying we’d prefer to keep our existing players and be prevented from signing new ones.

However a gap has emerged between what we said and how we acted. We have cut our wage bill and increased our income (through player sales) quite substantially.

I could see changes coming through legal challenge from the player side (they want high wages to be allowed) but I don’t entirely buy the idea we are a victim.

 

[CaptainOx]

Correct u21s don't need to registered under Lg 1 squad rules, even loans (unlike the Championship). Can register up to 22 senior players (21 or above). Keepers are excluded.

Looking at the players listed on the website, I make it 18 players assuming Frankie Kent isn't registered for this part of the season.

Yeah I agree on 18. Cumming, Eastwood, Andrews and Lynch don't need to be registered. Plus all the young pros.

 

[Billyox]

For League One, the rules are:
Maximum squad size is 22 players.
At least 8 of those 22 must be home grown.

Goalkeepers do not count towards the 22 player limit.

Under 21 players do not count towards the 22 player limit.

For the 2026/27 season, an Under 21 player is someone born on or after 1 January 2005.

In League One, Under 21 loan players also do not count towards the 22 player limit.

Oxford should also be comfortably above the requirement for 8 home grown players.

We are either 18 or 19 depending on kent

 

[Shosho]

So in theory, space for free agents if needed?

 

[werthersoriginal]

So in theory, space for free agents if needed?

We could grab an experienced free agent striker then

 

[Symp59]

We could grab an experienced free agent striker then

That would be very useful

 

[MJB]

We could grab an experienced free agent striker then

Benzema is available!

 

[Steve Gilbert]

So in theory, space for free agents if needed?

I'm not 100% sure but I think they would have to play for free.

 

[Billyox]

So in theory, space for free agents if needed?

Unfortunately not

Oxford’s squad situation is confusing because there are actually two completely different counts.
The normal League One squad limit is 22 senior outfield players, and Oxford appear to have spaces in that.
But the embargo uses a different test called Players of Professional Standing. Basically, if a player has made a qualifying first team appearance, he can count regardless of age or whether he is on Oxford’s normal 22 man list.
On my count Oxford have around 24 to 25 Players of Professional Standing.
Crucially, players loaned out like BDK still count for this embargo calculation. Selling a player can reduce the number, but simply loaning him out doesn’t.
So although Oxford may have spaces in the normal 22 man squad, that does not mean we can simply sign a free agent.
Outside the transfer window the emergency allowance is even tighter, with the club generally needing to be below 16 Players of Professional Standing.

 

[OtteryYellow]

Stadium and embargo are not linked Stadium is completely separate

Jim Chimchereux's excellent post on the board and management thread explains why this is not quite the case.

Probably worth making that post a must read before entering the forum!

It's definitely the most clear and logical analysis of the current position that I have seen.

 

[mooro]

Unfortunately not

Oxford’s squad situation is confusing because there are actually two completely different counts.
The normal League One squad limit is 22 senior outfield players, and Oxford appear to have spaces in that.
But the embargo uses a different test called Players of Professional Standing. Basically, if a player has made a qualifying first team appearance, he can count regardless of age or whether he is on Oxford’s normal 22 man list.
On my count Oxford have around 24 to 25 Players of Professional Standing.
Crucially, players loaned out like BDK still count for this embargo calculation. Selling a player can reduce the number, but simply loaning him out doesn’t.
So although Oxford may have spaces in the normal 22 man squad, that does not mean we can simply sign a free agent.
Outside the transfer window the emergency allowance is even tighter, with the club generally needing to be below 16 Players of Professional Standing.

That is true, but there would be space to bring in free agents before January if we were to come out of the embargo in the interim

 

[samstudd]

What’s the points record?

 

[Nadi-]

Just noticed Alfie McCalmont in the FA trial team. He and Ethan Galbraight were the midfield in a very useful Northern Ireland u21s.
26 now, and was a far better option than Oisin Smyth at the time, well worth the club taking a look

 

[holdsteady]

Just noticed Alfie McCalmont in the FA trial team. He and Ethan Galbraight were the midfield in a very useful Northern Ireland u21s.
26 now, and was a far better option than Oisin Smyth at the time, well worth the club taking a look

Do you ever forward your suggestions to the club? You seem really clued up on Northern Irish football so it seems a bit of a waste of knowledge it just being shared on here, must be some way the club can be contacted?

 

[BrockBuster]

Teams for context:

 

[SirAndyOfCrosby]

Heard an interesting rumour today.

Apparently we had agreed, on deadline day, to loan Sam Bell from Bristol City. But the EFL wouldn't agree to it.

Suspect he would have been instead of Lynch - and it kind of backs up the theory that the latter was only allowed because of his relative inexperience.

Looks like the EFL are scrutinising these things and that it's not purely about the financial implications of bringing in loan players but also about whether they are the calibre of player (with the experience to boot) that we should be able to.

 

[Eric Blair]

Heard an interesting rumour today.

Apparently we had agreed, on deadline day, to loan Sam Bell from Bristol City. But the EFL wouldn't agree to it.

Suspect he would have been instead of Lynch - and it kind of backs up the theory that the latter was only allowed because of his relative inexperience.

Looks like the EFL are scrutinising these things and that it's not purely about the financial implications of bringing in loan players but also about whether they are the calibre of player (with the experience to boot) that we should be able to.

It’s almost like the EFL are making this up as they go along

 

[Shosho]

I think the Bell thing was due to BdK and possibly being seen as part of the deal.