OXFORD have been saved - and they will see the season out in the Conference League.
The man behind the move is potential Exeter promoter Allen Trump, who insists his move to rescue the Cowley club won't hamper his bid to reintroduce the sport in the Devon city.
Trump takes charge after the collapse of the previous Oxford management which resulted in the Cheetahs pulling out of the Elite League - and there were genuine fears the club would fold for good.
Now Trump is determined to see them survive and, in time, develop a bright new future.
He said: "I'm very proud and honoured to be in this position to salvage such a great club in Oxford.
"My aim is to stabilise the club financially and to develop a good relationship with our stadium landlords, the GRA.
"We will see this season out at Conference League level but my intention is to see the club at a higher level next season.
"This is very much a team effort with myself and the fans working together to secure the future of this club which has such a great history and wonderful facilities.
"And my work on the Exeter project continues, that very much remains a priority for me. I don't see any conflict, I only have to look at Tony Mole and the way he has successfully owned Workington and Birmingham this season."
British Speedway Promoters' Association chairman Pete Toogood said: "Allen was the preferred candidate when it came to us accepting his proposals and we were pleased when he told us he had enjoyed a successful meeting with the GRA.
"Hopefully now Oxford as a club can lay the foundations for a strong future. It's a rebuilding process which starts immediately."
21/05/13 1930 Berwick v Newcastle (PL) 21/05/13 1930 Dudley v King's Lynn (NL) 21/05/13 1900 Isle of Wight v Mildenhall (NT) 22/05/13 1930 Birmingham v Wolverhampton (EL) 23/05/13 1930 Swindon v Birmingham (EL) 23/05/13 1930 Ipswich v Plymouth (LC) 23/05/13 1945 Sheffield v Dudley (Ozchem Trophy) 24/05/13 2000 Lakeside v Coventry (EL) 24/05/13 1930 Edinburgh v Scunthorpe (PL) 24/05/13 1915 Plymouth v Leicester (PL) 25/05/13 1930 Eastbourne v Swindon (EL) 25/05/13 1930 Leicester v Plymouth (PL) 25/05/13 1900 Workington v Glasgow (PL) 25/05/13 1900 Stoke v Mildenhall (NT) 26/05/13 1830 Newcastle v Scunthorpe (PL) 26/05/13 1500 Glasgow v Edinburgh (LC) 26/05/13 1600 Rye House v Plymouth (LC) 26/05/13 1630 Mildenhall v Coventry (NLKOC) 26/05/13 1500 Buxton v Kent (NT) 27/05/13 1930 Coventry v Peterborough (EL) 27/05/13 1300 Peterborough v Coventry (EL) 27/05/13 1930 Poole v King's Lynn (EL) 27/05/13 1930 Wolverhampton v Birmingham (EL) 27/05/13 1500 Scunthorpe v Somerset (PL) 27/05/13 1500 Kent v Mildenhall (NT) 27/05/13 1630 Scunthorpe Saints Select v Milton Keynes (Ch) 28/05/13 1930 Dudley v Buxton (NLKOC) 28/05/13 1900 Isle of Wight v Kent (NLKOC)
LATEST RESULTS...
WEDNESDAY MAY 22:
SKY SPORTS ELITE LEAGUE Poole v Lakeside - OFF
NATIONAL LEAGUE King's Lynn v Isle of Wight - OFF
MONDAY MAY 20:
SKY SPORTS ELITE LEAGUE Belle Vue 43 (Magnus Zetterstrom 13) Lakeside 50 (Davey Watt 13+1) Elite League points: Belle Vue 0, Lakeside 4
NATIONAL TROPHY Kent v Stoke - OFF
SUNDAY MAY 19:
PREMIER LEAGUE Glasgow 40 – Joe Screen 11+1 Leicester 49 – Magnus Karlsson 14 Premier League points: Glasgow 0 Leicester 4
NATIONAL TROPHY Mildenhall 47 – Jon Armstrong 13+1 Isle of Wight 42 – Adam Ellis 12+2 National Trophy points: Mildenhall 2 Isle of Wight 1 BRONZE HELMET: Tom Perry beat Stefan Nielsen
DAVID HOWE TESTIMONIAL, Scunthorpe 1 Josh Auty (Scunthope/Birmingham) 2 Morten Risager (Ipswich) 3 Ashley Birks (Scunthorpe/Swindon) SATURDAY MAY 18:
PREMIER LEAGUE Leicester 53 – Magnus Karlsson 14+1 Workington 40 – Cameron Heeps 12+2 Premier League points: Leicester 3 Workington 0
Plymouth 42 – Mark Lemon 12+1 Edinburgh 51 – Craig Cook 13+1 Premier League points: Plymouth 0 Edinburgh 4
BRITISH YOUTH CHAMPIONSHIP Round 2, Rye House 500cc 1 Nathan Greaves 2 Reece Downes 3 Michael Neale 4 Kelsey Dugard
250cc 1 Lewis Whitmore 2 Callum Walker 3 Luke Woodhull 4 Zach Wajknecht
