Blue Square Premier strugglers Oxford United's owners have not considered putting the club into administration, BBC Oxford have been told.

The club are losing money, but it is understood the club's only major debts are soft loans from their owners.

This would mean they would be the ones who stood to lose money if the U's were to go into administration.

Meanwhile, chairman Nick Merry admits the credit crunch is making it hard to raise money to buy the Kassam Stadium.

But he says talks are on going and he has not given up hope.