Deal agreed for Luton Town

16-01-2008

Deal agreed for Luton Town
The administators of troubled League One side Luton Town have revealed they have agreed a preliminary deal for TV presenter Nick Owen to buy the club.

Owen leads a consortium of businessmen and interested parties who are seeking to purchase the Hatters, who were forced to go into administration late last year.

And administrator Brendan Guilfoyle has confirmed that he has accepted a loan from the group, known as Luton Town Football Club 2020 Ltd.

"In return [for the loan] I have granted them the rights to negotiate with me exclusively to purchase the club until the end of February," Guilfoyle told Sky Sports.

"I think this a light at the end of the tunnel. It is a further progression in my attempts to sell Luton Town football club.

"I'm certainly hoping [this is an end to the drama].

"The Luton Town Football Club 2020 is a consortium of businessmen who have the support of the three fan groups.

"They are giving me every indication that they have the ability to complete the transaction, hopefully, before the end of February.

"I am very hopeful that we will be able to affect a sale of the football club, which of course will be conditional on the Football League and the Football Association agreeing to transfer the share."

It is hoped this loan will prevent the sale of further assets of the club, particularly some of the players.

First-team manager Kevin Blackwell, who has tendered his resignation from the club effective from February 9th, was reportedly angered by the administrators' decision to sell highly-rated players Chris Coyne – the club captain - and Dave Edwards without his knowledge.

And further comments from Guilfoyle suggest this will indeed be the case.

"I think the fire sales have come to an end," he said.

"I have largely secured the funding I need to get to the end of the season."

The club are currently third from bottom in the third tier of English football, having incurred a ten-point penalty for going into administration.

However, they have a potential money-spinning FA Cup third round replay against Liverpool at Anfield this evening which will boost the club's coffers.

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