Luton MD sets the record straight

Luton Town MD Gary Sweet was quick to set the record straight over rumours about club finances, in an interview on BBC Three Counties Radio today.

Gary confirmed to Stephen Rhodes that the £500000 extra payment to creditors ordered by the Football League, in restoring Luton's 'golden share', has already been paid, scotching rumours of the club's being close to administration again and unable to pay it.

He admitted that the long run of unfulfilled fixtures has had a negative effect on cash flow, which can be said of any club in that situation, but the club are keeping finances even tighter as a result of this.

Gary also revealed that players having been put on the transfer list was not only due to financial controls but also due to manager Richard Money's wanting to 'put his stamp' on the footballing side of the club.

Gary confirmed that funding from investors is in place for the next 18 months, and that while we have obviously suffered financially from the drop in status, the club is very pleased with the support at home games, and that they are still working towards balancing income with expenditure.

Although he didn't actually say it, it suggests that his message is :

'CHILL OUT! All is in order.' But then that is nothing less than I had expected!

Click here to join in the debate on the club forum.