Gary Rowett took the reins at the Kassam Stadium last December, although his reign has been brought to an end.
He kept Oxford in the Championship last term, but the U’s are now sat precariously in the relegation zone.
With the club keen to retain their second tier status, the axe was wielded on December 23. In a statement, the club’s chairman Grant Ferguson said: “Gary joined during a challenging period and deserves immense credit for the hard work and leadership that saw us retain our Championship status last season.
“However, following a disappointing run of results, we have had to take this difficult decision in the best interests of the club.
“On behalf of the board, I would like to place on record our thanks to Gary and Mark for their contribution to the football club and to wish them all the best for the future.”
There has been some movement in the betting markets, with some coaches rising up the favourites list and others falling.
Here is a fresh look at the BetVictor frontrunners for the Oxford job - with some familiar names featured.
