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LTFC2020 Latest News
As most people are now aware the process by which the Administrator will determine the future owners of Luton Town has reached a new phase and the next few hours are possibly the most important in the history of the Club. By now, most of you will have heard of the bid submitted by the consortium behind LTFC2020, and we are now able to provide more details of who is behind this and why TiL believes that it is great news for Luton Town. Before doing so, let's put into context the events of the past few months and days.
Luton Town was placed in Administration on 22 November 2007 along with the holding company Jayten Stadium Ltd, by the Chairman David Pinkney. There was little or no notice and, along with payment irregularities to agents that have since drawn charges from the FA, and a constant lack of honesty and transparency with the fans, our confidence in previous owners and directors is zero. Lack of stability at board level and dreadful financial management have reduced a great club to one on the verge of oblivion. TiL, as previous 10% shareholders in the club until administration, has consistently called for a new approach to running LTFC based on transparency and financial sense. As such, as soon as we went into administration we sat down and drew up our ‘cornerstones’ - a charter if you like, against which we would decide whether to support potential new purchasers. We also called for any future bidders to talk to us, explain their plans and motivations, as we firmly believe a club united with its fans can achieve anything. Without fan support failure is inevitable.
To date only LTFC2020 has worked with us, been totally transparent, and their bid not only meets the 'cornerstones' but is something we can all be proud of. It will bring credibility back to our club, and make it a recognised force on and off the field. Financial stability is number one priority, but this is supported by strong strategies for youth development, community and fan engagement as well as innovative marketing and a commitment to improve customer experience. Relocation is of course needed and the 2020 bid rules out no options until proper independent feasibility studies are undertaken. To support a bid based on one piece of land would be ruinous if planning permission were not obtained.
The people pulling this bid together have already been named and we salute the work of Gary Sweet, Stephen Browne and Antony Brown and welcome Nick Owen as a well respected town fan who is the public face behind the bid and prospective Chairman. Critically, to take the club forward we need investment and great business acumen and it is fantastic that Luton has attracted so much interest. In addition to the bid team, we are delighted that ex-Luton legends and successful businessmen, Steve Foster and Godfrey Ingram are backing the 2020 bid which is also supported by Mick Pattinson an ex -Luton Youth player, lifelong fan, and Head of Barratt Homes in the US. We also understand that the involvement of Godfrey has been pivotal in securing the backing of Mike Roberts, another highly successful US businessman. At least two other investors at this stage wish to remain anonymous, but they are also Luton fans and successful in business. One of football's "movers and shakers" Keith Harris has also publicly stated his support for the bid, and may be used for future finance. So, you can see that whilst this is a bid supported by the fans it is also a strong coalition of successful and innovative business people who will make the right commercial decisions for our club.
To date no other bid team has approached us but we understand that ex-Chairman and ex-Jayten Director Cliff Bassett is submitting a late bid with Junction 12 as their cornerstone. We urge Mr Bassett to talk to us quickly and be as transparent as 2020 have and to engage the fans before submitting the bid. As it stands, because we believe J12 is at the heart of this consortium, not Luton Town Football Club, we are unable to offer any support whatsoever. The Club needs financial stability TODAY, and needs to choose a new stadium site when all options have been properly considered. If Cliff Bassett puts in a bid that opposes LTFC2020, he is proving he, and all of those with him, do not have the best interests of the club at heart. By insisting upon handcuffing Luton Town to J12, he is threatening the very future of our club by being obstructive. Despite not knowing what Bassett's bid looks like we cannot understand how any other bid could possibly be better for our club. Surely the most likely possibility of the club moving to J12 is to back 2020 in an amicable way allowing this site to be considered independently. If Bassett and his partners oppose what the administrator has on the table with the support of every LTFC fan bar none, why on earth would any new owner engage with him afterwards?
Today, or possibly tomorrow, will bring in a new dawn for our beloved Luton Town. Let us all hope that Mr Guilfoyle will decide on the new owners that can bring us sunshine once again.
Liam Further Breaking News Today, LTFC2020, the Anglo-American bid to take Luton Town Football Club out of administration, announced more details about the team of people behind the bid.
Luton legend Steve Foster, who captained Luton Town to its 1988 Littlewoods Cup victory, stated that he was delighted to be supporting the professional bid that has been put forward to administrator Brendan Guilfoyle.
"We have exciting plans for the Hatters and once we stabilise the finances, we will focus on youth development, the supporters and relocation".
Steve went on to say "I had a great time at the Club and it was fantastic to be part of that hugely successful era. The fans deserve so much better than the events of recent months, and with my fellow partners on the bid, we know we can put the Club back on track to successful times. I really hope we are successful and I know the plans put before the administrator are tough in the early stages as we stabilise the Club, but after that we hope to take the Club into an era we can all be proud of. There are no promises - this is after all the 'funny old game' of football - but by uniting we have the best chance of achieving our goals: transparency; financial stability; engaging supporters and the community; and relocation"
LTFC2020, also revealed that Godfrey Ingram, another ex Luton Town player and now a very successful businessman based in California, USA, is one of the financial backers throwing his weight behind the offer.
Mr. Ingram, whose business partners include Michael V. Roberts of the St. Louis based Roberts Companies Empire stated "I was born in Luton, raised in Luton and had the great fortune of serving Luton as a player, but this is not about me or the so called return of the prodigal son. LTFC2020 clearly represents the collective will of the supporters and sets out a compelling and achievable vision for an exciting future for the Hatters. As such I am ready, willing and able to support this vision with all of the resources at my disposal".
The LTFC 2020 bid partners can, and will, ensure the future of the Club, but it does not mean millions! The Club still has to stand on its own two feet - control costs and live within its means. This is a crucial part of the plan. The bid has a full team of equal partners, not just one rich businessman bankrolling a new toy. The plan is to grow the Club in a sensible manner so that recent problems are never repeated.
Gary Sweet, Bid Manager, said "Steve and Godfrey, along with his business partner Michael, have been huge assets to the bid team. Added to Nick Owen, Mick Pattinson, Antony Brown, Stephen Browne you can see how strong our bid really is. We are also delighted to announce that 'Mr Football' Keith Harris has not only given his full support to our bid, but he has kindly gone further and stated that he will help us secure future funding should it be needed. We are delighted and proud of the attention our football club has generated and the fantastic set of skills that all these people bring to our bid. We really are trying our hardest to be the next custodians of the Club so that everyone can look forward to happier times, safe in the knowledge that we have the top experts in their fields leading us forward" |
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