Luton Town goes into administration

English Luton Town have been placed into administration, and the club has suffered an automatic 10-point deduction as a result.

The club has been seeking potential buyers, but a tightening of purse strings was needed as income slowed.

The move was not supposedly related to payments to agents during player negotiations, something Luton Town has been charged with buy the FA. Two board members stepped down after being charged in the matter.

"This is a sad day for me personally, I have only ever had the long-term future of Luton Town Football Club at heart," club chairman David Pinkney told BBC. "Changing circumstances and the potential huge liabilities surrounding the club have presented me with no alternative but to place the club into the hands of the administrator.

"As a further commitment to the supporters and the future of the club, I have, however, decided to fund the overheads of the club throughout the sale process without any guarantee of recovering these moneys."

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.