Oxford boss Chris Wilder has signed a new 12-month deal, the club have announced.
The U's called a Thursday morning press conference on the subject of the manager's future, leading many to question whether the former Halifax man, 45, would be leaving the Kassam.
But chairman Ian Lenagan ended speculation about their manager's future by confirming that Wilder will manage the club in npower League Two next season.
"I am fully aware that some supporters, some might say the majority, were expecting a different decision, " he told the Oxford Mail.
"We are convinced that in Chris Wilder Oxford United has a young manager of high promise.
"It became clear early this season that our injury situation was a mountainous obstacle to overcome this season."
Wilder added: "I'm delighted to be reappointed. I'm honoured to be manager. I take full responsibility for Oxford United falling short in our points tally this season."
Wilder has has been with the club since 2008 and led them to promotion from the Blue Square Premier, but an injury-hit campaign will end with Oxford finishing in mid-table.