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Page last updated at 08:43 GMT, Friday, 22 January 2010

Luton deny rumour that club is close to administration

Luton Town

Luton Town's managing director Gary Sweet has denied claims that the Hatters are close to administration, following a number of postponed games.

Sweet conceded the cold snap had led to cash flow problems, which was a factor in several players being made available.

But Sweet told BBC Three Counties Radio that talk of administration was wide of the mark.

Asked whether Luton were in financial trouble Sweet replied: "Certainly not."

He said: "We've got a tight group of investors and shareholders, who need to continue to put money into the club, while it still loses some money, which was always a part of the plan that we had when we took over the business.

"That's something we're proud of them for, and means the club can survive certainly through to the next year-and-a-half or so."

On the subject of players being transfer-listed, he added: "Being in the Conference we're certainly one of the top two payers of salaries and, in some ways, we should be because we've got the appropriate number of supporters coming to support the business too.

"However, we've got a new manager and he wants to make his mark, and together we've made the decision that we do feel that the club needs to have a change around a little bit. We do need to reduce the salary bill because it will, every so often, go beyond what we want it to be."

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