Luton hope to move if takeover successful
Luton’s new owners hope to relocate the club to a new 15,000-seater stadium within three years if their £1.7m (€2.5m) takeover is completed this week.
The Hatters unveiled new chairman Bill Tomlins and a new board of directors today despite not yet being out of administration.
But former club secretary Tomlins is confident the paperwork will be rubber-stamped within days, paving the way for the Hatters to relocate to a site on junction 10 of the M1 motorway.
He said: “It’s been a hard road coming to where we are. We formed a group to see whether we could save the club and this club is now coming back to the fans.”
The Tomlins consortium has invested £1.7m (€2.5m) in Luton, who are losing £200,000 (€299,987) a month despite having spent all season in receivership.
Further funding will be raised with the move to a new ground, which could be built by August 2006 if planning issues are resolved quickly, and could eventually have a capacity of 25,000.
