Club announcement - We have no money

Last updated : 19 March 2007 By Peter Bulkeley
Despite selling four players this season, the Luton official website has reported that the club basically has no money whatsoever. This is partly due to the club so far only receiving £6million from the Vine, Edwards, Howard and Nicholls transfers but also due to the spiralling operating costs since coming out of receivership after the 2003-04 season.

Another factor in the club making a loss of over £6million (according to the official site) is due to the clubs revenue from gate receipts, sponsorship, reserve team matches, TV money, prize money, club shop etc. mysteriously going missing from the finance statement. The financial director at Luton said, "The above summary does not include any other income received by the Club (ticket and commercial sales) nor the associated operating costs i.e. non football salaries and other running costs of the business e.g. youth team and stadium". The only response I can think of to that is the same response I gave when I heard Cardiff were interested in signing Warren Feeney, and that response is, "Why?"

Thanks must go to the board for reassuring us about the state of the club's finances. I'm sure a lot of Luton fans will feel a lot safer after the publication of those finances. We don't need to worry about the club any longer, that's for sure.