Luton secure deal

Owen-fronted consortium steps in

By James Dall   Last updated: 15th January 2008

Kenilworth Road

Kenilworth Road: Light at the end of the tunnel

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Luton Town administrator Brendan Guilfoyle has revealed that a deal has been agreed with Luton Town Football Club 2020 Ltd.

The Hatters have received a loan from the Nick Owen-fronted consortium, with Luton Town Football Club 2020 Ltd granted exclusive rights to purchase the club up until the end of February.

Luton are in are in administration, and manager Kevin Blackwell has handed in his resignation following the sale of players to generate revenue.

But Guilfoyle is 'hopeful' that a transaction will be completed in the coming weeks, while voicing his hope that the 'fire sale' of players is over.

Progress

"I am pleased to be able to announce that I have received a loan from Luton Town Football Club 2020 Ltd, to help me fund the club going forward," he revealed on Sky Sports News.

"In return I have granted them the rights to negotiate with me exclusively to purchase the club until the end of February.

"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 [that 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.

Blackwell u-turn

"I think the fire sales have come to an end. I have largely secured the funding I need to get to the end of the season."

On the possibility of that Blackwell could still have a future with the League One outfit, Guilfoyle said: "I think Kevin has made his position fairly clear, you would have to ask him about that."

Guilfoyle went on to dismiss reports that goalkeeper Dean Brill and forwards Calvin Andrew and Drew Talbot are set to leave the club.

"Those transfers are not pending," he stated

On the developments, Blackwell told BBC Radio Five Live: "It's good news. It's a positive move for the club and let's see where it takes us.

"Once the Liverpool game is done we'll see what it all means."

Asked whether he might change his decision to resign next month, he said: "Who knows?"

Owen

Owen added: "I'm very happy and I'm very relieved. I'm extremely proud of what has been achieved by the consortium.

"We've been given exclusive principle priority bidder (status) and have a free run to take over the club fully by the end of February if we get approval from the FA and the Football League.

"The initial bid revolves around a figure of £10million but in the long term the funding is there in a big way."