The club issued a statement on its website confirming they have been unable to reach an agreement with manager Mike Ford for him to continue in the role after his current contract ends today, April 30.
The club statement said: "Mike has achieved a great deal in his time with the club.
"The highlight of course being winning promotion from the Southern League South & West Division in 2015-16. Since then, under Mike's management we have become a well established Southern League Premier Division club.
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"The club wish to place on record their thanks to Mike for his commitment and support over the past five seasons and wish him every success for the future.
"We will now start the process to recruit a new manager, and we believe this will be an attractive opportunity to manage at a well run and ambitious club."
After news broke about the club and its manager parting ways the team's assistant manager, Anton Sambrook, stepped down from his position.
Anton Sambrook posted a statement about his resignation on Twitter, which said the club's manager, Mike Ford, was no longer with the team because he failed to remove a female member of staff from her unpaid position with the team.
Mike told the Banbury Guardian earlier this month he was satisfied with the season’s progress despite seeing their late push for the play-offs prematurely ended.
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