18/03/08 - The authorities informed...

"As required by the Company Directors Disqualification Act 1986, the Administrators will be preparing a report on the conduct of the directors of the Company. This report will be lodged with the Department of Trade & Industry but its contents will remain confidential."

03/02/08 - Scare Stories and Smears!

Mr Sweet said " It is a pitiful distraction. They are turning this into a 'Club -owned -by- fans' versus a 'Club -owned- by- property developers' battle. Some of our investors and team have recently been contacted directly by our rivals with scare stories and smears in an attempt to de-rail the 2020 bid. We will not be swayed by bullying tactics aimed at forcing us to move to their stadium because they need it to make millions of profit from a warehouse development." Gary Sweet - 02/02/08

(http://trustinluton.org/2february2008.aspx)

28/01/08 - We lost at Anfield this Month, but we also Won a War!!

Now for the Tax Man!

The 2020 Mission moves forwards again. Even this site didn't fully realise the terrible state Jayten were leaving the club in! Before Brendan wielded his axe it's estimated that the club was losing over £500,000 a month, an unpaid tax bill and a debt of £10 Million have given us a task that many other clubs would fail.

Luton will have to fight to survive over the coming months, but the changes can already be seen. The fans spoke as one at Anfield and left the nation in no doubt that we back 2020. Message boards have been full of threads about tax law and even our old friend Nadine Dorries has taken to speaking in the commons to back our campaign.

At last the Jayten era appears to be behind us...

"I am delighted to accept the positions offered and feel extremely positive about the many changes that are taking place at the Club. It takes time for new management both on and off the pitch to fully implement their vision and I believe that the Club is heading in the right direction."

09/01/08 - 2020 The only way!

Each and Every one a legend!

1 Mike Roberts
2 Keith Harris
3 Mick Pattinson
4 Godfrey Ingram
5 Steve Foster
6 Bob Curson
7 Nick Owen
8 Stephen Browne
9 Antony Brown
10 Gary Sweet
11 TBC

It's over to you now Mr. Guilfoyle. If your in any doubt about the motives of other bidders please feel free to read the rest of the site! Their plan failed before with many casualties!

05/12/07 - "But Mitchell believes his tenure as chief executive has helped leave behind a legacy"
(http://www.hattersnews.co.uk/LNletters051207.html)

A £450K (Est) wage bill
From being nearly debt free to having a debt in excess of £10 Million
Over £9 Million taken from the club in transfer surplus
No nearer a new ground
Players not paid for six weeks
50 FA Charges
10 points deducted

Etc. Etc.

05/12/07 - We're back!!

Administration has changed everything!

26/11/07 - Hatters chairman: "I'll save club." - Luton Town chairman David Pinkney has vowed to keep the club afloat after seeing it go into administration.
The Hatters supremo, who lives in Harpenden, will cover all the costs including players' wages until a buyer is found.
(http://www.thisishertfordshire.co.uk/sport/sportstalbans/display.var.1859563.0.hatters_chairman_ill_save_club.php)

05/12/07 - "The lads have not been paid for six weeks. We are in administration, we don't know what is happening and the lads go out there and put in a thoroughly spirited performance like that." - KB on the Official Site
(http://www.lutontown.premiumtv.co.uk/page/PostMatchReaction/0,,10372~1183444,00.html)

21/11/07 - Mitchell and Bagehot Resign!

"It has been confirmed today by Club Chairman, David Pinkney that in the best interest of the Football Club both John Mitchell and Richard Bagehot have agreed to step down from the board of the Club."

17/11/07 - Police costs at Kenilworth Road have fallen

"Running costs (with the exception of policing, stewarding and stadium) have not increased and are at a level anticipated prior to the recent takeover." - Official Site 31/10/07
(http://www.lutontown.premiumtv.co.uk/page/NewsDetail/0,,10372~1156277,00.html)

PC Peter Palmer, Beds Police's football liaison officer: "The police forecast that the cost of policing football matches at the Kenilworth stadium will be significantly less this season than last."

A police spokesman said: "During the current financial year the cost of policing Luton Town Football Club matches is projected to be £172,593 of which 100 per cent is expected to be recouped from the club. This equates to an average of £5,753 per match and a 13.7 per cent decrease, not an increase as suggested by some publications."
(http://www.dunstabletoday.co.uk/luton-sport/Is-Hatters-policing-a-fair.3491031.jp)


Brentford at Home

15/11/07 - FA throw the book at Luton over agent payments

"More than 50 disciplinary charges are to be brought against Luton, former and current club officials and six agents alleging breach of regulations regarding payments to agents, the Football Association announced tonight."

"It is alleged that John Mitchell and Richard Bagehot subsequently became aware of this system but did not alert the FA."
(http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=494314&in_page_id=1779&ct=5)

It bring's us no pleasure to tell you we told you so again! JAYTEN OUT!

10/11/07 - Increased losses explained!

"Running costs (with the exception of Policing, Stewarding and Stadium) have not increased and are at a level anticipated prior to the recent takeover."

Those who have visited kenilworth road will have noticed some cosmetic changes to the ground, but little more. So the board claim an extra £1M to £1.5M (Mitchell claimed losses would fall well below £2M this year unless dave splashed the cash, according to LLSC) has been spent on policing and stewarding. These costs would be expected to fall after relegation.

To put these figures into perspective these were the annual policing costs for Brighton and Hove Albion.

2003 - £95,488
2004 - £88,292
2005 - £76,688
(http://www.sussex.police.uk/foi/docview.asp?id=383)


Brentford at Home

30/10/07 - The King is Dead, Long live the King!

http://www.LTFCholdings.com

"Luton Town Football Club Limited today announced that following a recent board meeting, it had approved the change of name of its former holding company (Jayten Stadium Limited) to Luton Town Football Club (Holdings) Limited with immediate effect."

23/10/07 - Real? You decide...

21/10/07 - Rallying the troops!

"The Board understands that feelings may run deep on this issue, however, it is also conscious of its commitments and the sensitivities that surround the Club at the present time.In particular, the importance of any potential conflict of interests in respect of the Club's intended relocation and therefore it has to ensure that no other agendas are being pursued."
(http://www.lutontown.premiumtv.co.uk/page/NewsDetail/0,,10372~1147228,00.html)

Now it all make's sense! Let's risk the very existence of LTFC on J12.

I mean things are going so well regarding J12. Just ask MP for South Beds Nadine "I am totally opposed to the relocation of LTFC to J12" Dorries.

18/10/07 - Jayten withdraw TiLs seat on the board - Contempt for the fans reaches new levels!

"I can confirm that I have been in contact with the club about their statement of 30 September 2007 where they stated that they do not intend making any additions to the current board. As we have said previously, we are the rightful possessors of a seat on the board so we assumed that this statement did not relate to us. Also, we are hugely disappointed that the club did not contact us directly about any potential issues surrounding our board seat (quite the contrary in fact, Mr Mitchell has been chasing us throughout the summer to nominate a new representative).

Sadly, however, I have to report that, whilst the club recognise that we have been on the board for nearly four years, and that we have a rightful seat, they have confirmed to us that they will not reappoint a supporters' representative to the board in the 'short-term' future, and that their statement did in fact refer to TiL directly. Rather than discuss the situation with us personally, regrettably, they preferred to inform us via their website and they felt that this was sufficient. At present, no date has been given to us when we can attend board meetings again. According to the board of the club, there are 'issues' that must be resolved before we can take our rightful place and that currently prevent us from taking our seat.

A representative from the club's board has explained these 'issues' to us but, at present, they do not wish us to release a formal statement until tomorrow, so please revisit our site tomorrow when I will update you. Needless to say, we do not agree with their position and find it unacceptable, so we will do all that we can to change the stance of the club so that we can represent the views of all fans in this important time for the club."

Liam (http://trustinluton.org/18october2007.aspx)

18/10/07 - CHAIRMAN HAILS HISTORIC DAY - New training facilities opened!

"I was talking to a few of the lads and they were saying it was unbelievable. We are not far from where the new stadium will be and the players just love it."

"It takes a long time and you take a bit of flack from the press and you get the disbelievers."

"I do understand to a certain extent because people have been listening to this for many years and nothing has been done."

"It will become important in attracting players to Luton Town. If we want to sign someone, the training ground will be the first place they will see."

"However, we can now bring players to the new training center and let them see this venue as it has better facilities than at most smaller Premiership clubs."

I'm not going to make any ironic comments about the above article, it speaks for itself! If Jayten truly see this as an historic day for the club they have no idea about our history! If it's a PR effort, to allay the fears about where the money has gone, they have treated the fans with contempt!

Oh and thanks to those at TiL and LLSC that identified the site and started negotiating with the land owners, Dave seemed to forget to mention that today.

14/10/07 - Storm in a tea cup lads!

Luton chairman David Pinkney believes the FA probe into financial irregularities at Hatters will be a 'storm in a teacup'.

"Again this is an inherited position, although it appears from everything I have seen that the problem was simply monies being primarily paid out of two accounts instead of just one.

(http://www.dunstabletoday.co.uk/luton-sport/FA-probe-39storm-in-teacup39.3369031.jp)

Phew, We were getting worried then!! I mean it's not as if a well respected figure that has been linked to the club for years and years has come out and said we broke FA rules...

Newbery, widely respected within the game for her integrity, detailed how the method of payment was outside the FA guidelines.

Tomlins furiously ripped up the letter and told her: "I deal with these matters — not you."

(http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=455153&in_page_id=1779)

Ah well maybe she got it wrong. It's not as if Tomlins has made a detailed public confession listing every deal or anything...

"I know it was a breach of the rules but I thought I had reasonable grounds. I broke the rules, no question, from the time we went into the Championship. But, I’ll tell you, it was to avoid the rantings, the ragings and the bullying of the manager."

The payments admitted by Tomlins were:

To Edwin Stein, representing Marcus Heikkinen, two unauthorised amounts totalling £25,000.

To Sky Andrew, representing Ahmet Brkovic, three unauthorised payments totalling £37,500.

To Imageview Agency (Mike Berry), representing Carlos Edwards, four unauthorised payments totalling £44,500.

To Stellar Sports, representing Kevin Nicholls, one unauthorised payment of £7,500.

To Treble B Sports (Andy Mills) representing Rowan Vine, one unauthorised payment of £10,000.

To Direct Sports (Mark Curtis), representing Steve Howard, one unauthorised payment of £16,000

To Key Sports (Steven Denos) representing Marlon Beresford, one unauthorised payment of £10,000.

(http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=455153&in_page_id=1779)

 

06/10/07 - £3 Million a year now, apparently - Who's to blame?

Mitchell to LLSC 31/05/07
"JM confirmed we are currently losing around £2m p.a., however, will expect this to reduce next year as operating costs are reduced, unless DP wants to invest further into the playing side. I said that I was unhappy this had increased from the £1.2m p.a. I had been quoted one year previously as well as the inconsistencies in statements coming out of the Club about the actual levels of losses/ debts. JM said that our inspection of the accounts/ books should help ease our concerns in this respect."
(http://www.loyalluton.com/)

So losses will fall below £2M this season if Dave doesn't splash the cash.

Pinkney to the Herald and post this week
"Until certain player contracts expire, which currently we have no control over, we can't get to the balanced position I want to collectively achieve with our manager. They are set in stone and cost us dearly week on week. They have nothing to do with the current management, but are a legacy of the past and something that we have to deal with. We are haemorrhaging over £3 million at the moment and trying to get to the bottom of it."

Losses have increased by £1M+ since May because of pre existing contracts?! These figures don't even factor in relegation clauses in players contracts.

02/10/07 - Beyond words!

"Luton Town last night released financial figures that were supposed to clarify why the sales of five key players since summer 2005 had been necessary but the information actually raises further questions about what has happened to the £8.6m receipts.

The most confusing detail is that Luton claim it cost them £1.852m in expenses - of the £8.6m received - to offload Curtis Davies, Steve Howard, Kevin Nicholls, Carlos Edwards and Rowan Vine.

A Luton statement said that the £1.852m was either paid or is due to the "players, agents and football management".

In other words, the club paid a combination of the players themselves, agents and unnamed officials for getting the players off the club's books."

(http://sport.independent.co.uk/football/news/article2374374.ece - Nick Harris - March 2007)

March 2005 - Mitchell interviewed by the BBC "At no time did board tell Newell he had to sell players". Newell also claims his 10% was never paid. If this is true the total figure would stand at £2.7M.

So why pay £1.8M / £2.7M for the privilege of doing so!

29/09/07 - Mitchell and Terry Brady (Father in law of PP - Small world isn't it!)

"Cliff Puffett is said to be close to securing a deal with a consortium led by Terry Brady and ex-Fulham player John Mitchell."
(Swindon's Rival's site - Apr 2000)

"Former Fulham striker John Mitchell is no longer part of the Swindon bid, having turned his attentions to Luton Town."
(Wiltshire Times and chippenham News - Late April 2000)

A holding company, no hang on, a property company was created called Swindon Town Properties Ltd. Everything looked rosey, the plan seemed to revolve around the council and planners green lighting a new ground, cinema, health and leisure facilities and a conference centre. Then...

June 2001 Brady walks -

"Meanwhile, for the first time, we can reveal the real reason chairman Terry Brady gave for walking out of the club in June.

A letter to club director Ian Blatchley from Mr Brady's lawyers warned that Mr Brady feared the Inland Revenue was about to present a winding-up petition on Town.

The lawyer's letter said Mr Brady had signed a cheque in favour of the Inland Revenue in the belief that there would be enough funds to cover it. However, it is then claimed the funds were not available.

"By virtue of your failure to make the investment and having regard to the failure to meet creditors' claims, the CVA has failed."

"Further, our client understands that there has been no financial support given to the team manager in order to recruit new players for the next season."
(http://archive.thisiswiltshire.co.uk/2001/8/20/211127.html - August 2001)

Later revelations detailed how board members refused to sign off accounts and for one year there were no accounts at all! (http://archive.wiltshiregazetteandherald.co.uk/2001/8/20/211138.html)

Does any of this sound horribly familiar?!

22/09/07 - Still no accounts - The "2%" Grows and Grows!

First of all well done Kevin and the lads for bagging 3 points.

Despite request's from all side's Jayten have yet to provide any accounts. The Sunday Mail also commented that the club was "available for £5 Million". At this price Jayten would walk away with £10.1 Million (£9.6M Transfer surplus + £5M - £4 M 2 years operating costs - £500,000 Loan from the WCs), not bad for 2 years work destroying the team and taking us down a league.

Today also rubbished the myth that attendances haven't been affected by the jayten era. Today wasn't a bank holiday, today wasn't a 12 o'clock kick off. Today's attendance was 6,084!

17/08/07 - At last the Media are asking questions! (Via TiL's press releases)

"Fans' group Trust in Luton is urging Luton Town to back its promise and reveal details of the club's accounts.

Kevin Foley's sale to Wolves this week means Hatters have made close to an incredible £13million from player sales in the past two years alone." Dunstable Gazette

Money IN from transfer since Aug 2005
Money Out From Transfers since Aug 2005


Foley - £750,000 (According to the express)- Aug 2007
Leon - £2,500,000 - July 2007
Vine £2,750,000 - Jan 2007 (£2,500,000 if Brum not promoted)
Edwards £1,500,000 - Jan 2007
Howard £1,000,000 - July 2006
Nico £700,000 - July 2006
Feeney £75,000 - March 2007 (Loaned until the end of the season)
Curtis £3,000,000 - Aug 2005 (10 - 15% Sell on clause)

Edwards £250,000
Feeney £150,000
Talbot £250,000
Spring £200,000
Boyd £500,000
Parkin £350,000
Vine £250,000
Vine £625,000 (sell on)
Bell £100,000
Total Money IN - £12,275,000
Total Money OUT - £2,675,000
Balance -
+ £9,600,000
 
- A new team bus, a new stereo system for the changing rooms, few new tiles around the bath and a bit of paint in the ground.

 

05/08/07 - Congratulations Jayten!!!!

Since taking over the club, 2 years ago, you've pulled in a transfer surplus of £9,000,000! This follows the sale of Leon for £2.5M and the confirmed fee, of £250,000, for Edwards. Based on the administrators predicted annual losses, and jayten's, that's a £5,000,000 profit. Well done!!

Can we just ask the question at the top of the page again?!


15/07/07 - "Losing £2 Million a year"

How come we're sponsoring the chairman's racing team then?!!

"Sponsors: Farecla, Luton Town FC, Motul, Besglos, Clemtech, AA Warranty and Quaife"

http://www.btcc.net/html/team_detail.php?id=33

01/07/07 - Hang on we've had a good week!!

Yesterday I attended the LLSC (Loyal Luton Supporters Club) where KB spoke with sense, a wealth of knowledge and passion. After the meeting the majority of fans seemed to feel he is a man who could do a great deal for the club if he gets support.

And on the playing front we seem to have brought in 2 potentially good prospects...

Has a corner been turned?

16/06/07 - Dave, let's make this easy for you!!

YES


Marc Bignell - Big time Media Mover and Shaker. Great appointment, a step forward!

No !!!


A man who admits to "misleading" the fans.
A man who let another shareholder make irregular payments on his watch.
A man who has overseen a regime that sold our best players, making a transfer surplus of well over £6 Million.

And yet he's still with us! Three steps back!

06/06/07 - Let me tell you a story - Stick with me this is a long one!!

In 2000 Mike WC took over the club (He owns land at Junction 10). The previous major share holder Cliff Bassett (He owns land at Junction 12) sold his shares to MWC and became a vice president of the club. I mean what's the point in Cliff hanging around he'll never get planning permission at junction 12?! At this point J10 > J12.

Mike then appears to have a senior moment and sells the club for amounts that differ according to who you listen to, but it was well under the market value. John Gurney is swiftly dispatched by a very clever man from TiL and the fans with support from MWC. J10 > J12

A consortium is formed named Jayten. It appears that the stadium will be built at J10 (Jayten get it?!) in conjunction with retail units, a massive car park and a hotel. By a strange coincidence a hotel magnate is one of the two major investors in Jayten (Malcolm Gold). J10 > J12.

Jayten appears to be made up of two groups according to BBC 3 counties. Tomlins, Peter, Bagehot and Mitchell, the "Experts". Malcolm Gold and Ken James the investors. The League required the consortium prove they had sufficient funds to support the club in the short term. The general agreement seem's to now be that it stood at about £1.4 Million. SWC claimed at a subsequent meeting that the Challis' supplied £500,000 of this money. J10 > J12.

We have a great year on the pitch but then the bad news!! July 2005 - Gold and James leave the Jayten board. Martin King, an existing non executive member of the board, steps into the breach. Less than a month later player sales start. A plan of the new luton runway is released and J10 is in doubt according to the board. All of a sudden Cliff Bassett appears with the remaining Jayten board at a public meeting. The Challis' gate crash to public chants of "There's only one mike challis" but all of a sudden J12 > J10. But hang on how are we going to get planning permission?! And all of a sudden since the hotel magnate left we've changed from hotels to warehouses.

And then the fun really started!!

01/06/07 - Liar - "A person who deliberately gives false testimony"

According to the Dunstable gazzette John Mitchell -

"Apologised to Loyal Luton Supporters Club and Trust in Luton for misleading both groups into believing the FA was only due to investigate three issues of irregular payments made by former chairman Bill Tomlins."

"On other issues of finances, Mitchell confirmed that Pinkney had recently paid money into the club to cover a cash shortfall and that Town had agreed to reduce the sell-on fee for Curtis Davies from 15 per cent to 12.5 per cent in order to bring forward the date of the final installment of the defender's £3million transfer to West Brom."

What cash shortfall?! Look at the transfer surplus since Jayten took over!! And that was before they cut CD's sell on clause!!

21/05/07 - John Mitchell quoted on ThisisLondon.co.uk

"At one stage, one of the directors, former Fulham and Millwall player John Mitchell, discovered an invoice for £10,000 from Treble B Sports at his own private offices. It was for "consultancy fees".

When Mitchell queried the invoice with Tomlins he was told: "Silly sods! They've sent it to the wrong company. I'll deal with it.""

Quick question. Why did the agent have the private company address of Mitchell in the first place, a company which he claims is not connected to Luton or Jayten in anyway. Let's just hope no other invoices go missing and are paid by other companies ay!!

Club Statement

"Mr Tomlins has not and will not receive any 'Golden Handshake' payment from the Football Club or its holding company (Jayten Stadium Limited)"

20/05/07 - John Mitchell - "Let the facts do the talking from now on." - Luton on Sunday - OK - John

1) When Jayten took over the club Tomlins said "At the end of the day, this club, even as we speak, is losing £200,000 a month". When Dave Pinkney came in he said " "The club is losing £2 million a year". So according to Jayten's own figures we should have lost £4 Million approx since they came in. As I've said before that's more than covered by the £6.75 Million transfer surplus, you also need to take into consideration that the major wage earners at the club have all been sold so that would have shrunk the clubs outgoings considerably. So what's the answer?

A) £2.75 Million pounds has gone missing?

B) Jayten have increased the clubs losses by over 65% since taking over?

C) John's calculator needs new batteries?

2) "The deal will allow a 30 acre site to be given to the board, along with £25 million set aside for a new stadium." In his recent interview in the Beds on Sunday Mitchell confirmed this figure, coming from developers, and valued the 30 Acre Site at £15 Million. So let's just check. That would mean that no money for the stadium is coming from Jayten or it's investors?! It's also worth highlighting that Bassett has offered this land to the club before Jayten became involved.

So why do we need Jayten? It would appear that all they have done is broker a deal that has yet to result in any progress for the club. Oh yeah and their employees have...

Undermined and then sacked Mike Newell
Sold our best players
Paid £150,000 to agents in illegal payments
Put the club at risk of punishment from the FA
Offered us false promise after false promise about a new ground

ETC... ETC....


Bassett

16/05/07 - We did tell you so!!!

Just to remind you this company is still in charge of Luton. What kind of company allows someone to spend £150,000 without any authorisation when they were allegedly already losing £2,000,000 a year?!

"Former Luton Town chairman Bill Tomlins has admitted he made illegal payments to agents whilst he was in charge of the Hatters."

"Tomlins told the Daily Mail he confessed in a phone call to the Football Association to 13 separate payments totaling £150,000 to seven agents."

"I broke the rules, no question, from the time we went into the Championship, but I'll tell you it was to avoid the ranting's, the raging's and the bullying of the manager."

And who will be punished? The fans!


(Left to right)

John Mitchell (Jayten - Currently own the club) Still at the club, unaware of Tomlins corruption?!
Bill Tomlins (Still a Jayten Shareholder, Ex Chairman, Ex 2nd hand car salesman) Admits to making illegal payments.
Mike Newell - Sacked by Tomlins as he alleged the board were making illegal payments to agents!
Mr. Harford - Playing legend AKA God

18/04/07 Look's like KB has been "Sold" the dream -

"Once he'd sold me his vision and expressed his clear desire to move from Kenilworth Road to a brand new stadium I wanted to take it on."

But haven't we heard this sort of stuff from Jayten before?

Newell turned down Leicester because - "Exact details are vague, but the newspaper believes the developments relate to new investors described as 'proper football people' being ready to commit more cash to the club."

Then when the airport site was "ruled out" - "Whilst having been focused on the site at Junction 10a, the Club's directors have looked at alternative options for relocation, in particular a site to the north of the town, adjacent to Junction 12 of the M1." The statement from the club continued."

As a result, meetings have been held with the landowner and the local authorities for the purpose of building a 20,000+ all-seat stadium, rather than the initial 15,000- seat stadium that was originally planned for the Junction 10a site."

The Hatters say these meetings have been positive, and could lead to a new stadium for the start of the 2008 season."

Yes that's 2008!

Then in August 2005 (Remember this is still Jayten saying this)

"We are very focused on the project and we are not far off concluding the deal," said chairman Bill Tomlins.

"We hope for it to be ready by Christmas of 2007 - perhaps even at the start of that season in August."

Tomlins added: "The club does not have a future without the relocation.

Yes that's August 2007!

Tomlins (Jayten) - Again

"The new stadium our aim is for two years and we will extradite things as quickly as possible and we've been working with two developers, so with a bit of luck, we can achieve our objective, which is the relocation within two-years.

May 2004. That's right guys it's ready!! If someone would just tell us where they built it!!

Mick Stays because we're getting a new stadium, Jayten tell him

"I've had two meetings with Bill Tomlins and other members of the new board that will hopefully be installed by the end of the week and I asked a lot of questions about the future and the new stadium and that was partly down to me staying. I was excited by what they had to tell me and by the future of the club and the plans for the new stadium and for the club and I want to be a part of that. We should probably be out of administration by the end of the week."

Feb 2004

In a meeting with the league they seemed to have mentioned something about a new stadium as well

"The Bill Tomlins Sports Management consortium takeover is expected to be approved at a meeting of the board of the league this afternoon.

And, providing this is the case, the group hopes to take the Hatters to a new stadium by as early as August 2006." - http://www.lutonfc.com

17/04/07 - "The club is losing £2 million a year, and I've guaranteed the debt, but I am not going to disclose my initial investment. I'm going to do the best I can to support this club and I want to get it into the Premiership." Dave Pinkney - Copyright Beds on Sunday

We've got a debt now as well!! It's also worth pointing out that Howard, Vine, Feeney and Nico were some of the biggest wage earners at the club. Their departure would have massively reduced the wages / outgoings of the club.

Get your calculators out!!

Over the last 20 Months we've had a supposed debt of £2 Million a year this would equal £3.33 Million over that period of time. In that period of time we've had a transfer surplus of £6.75 Million. That leaves £3.42 Million!

14/04/07 - Pinkney has invested in Jayten, the holding venture. The very same company that, via their own appointed chairman, made irregular payments to agents, got through over £6,500,000 worth of transfer surplus in less than two years and sacked Newell for speaking out against the board. What's changed?!

Money IN from transfer since Aug 2005
Money Out From Transfers since Aug 2005
Vine £3,000,000 - Jan 2007 (£2,500,000 if Brum not promoted)
Edwards £1,400,000 - Jan 2007
Howard £1,000,000 - July 2006
Nico £700,000 - July 2006
Feeney £75,000 - March 2007 (Loaned until the end of the season)
Curtis £3,000,000 - Aug 2005 (10 - 15% Sell on clause)
Feeney £150,000
Talbot £250,000
Spring £200,000
Boyd £500,000
Parkin £350,000
Vine £250,000
Vine £625,000 (sell on)
Bell £100,000
Total Money IN - £9,175,000
Total Money OUT - £2,425,000
Balance -
+ £6,750,000
 
- Irregular payments of course!!

 

"The chairman of Luton Town, Bill Tomlins, has resigned having admitted to making irregular payments to agents on three separate occasions.

"... Tomlins has told the BBC that he made the payments from the club's holding company Jayten."

Copyright BBC News

Newell has pledged to "dig out" the club officials and agents who have offered him such payments and has called on the governing body to clamp down on the practice once and for all.

(In March Newell was sacked by Tomlins and the board)

Copyright The Scotsman

A rough transcript of John Mitchell (CEO of Luton Town FC) on Look East

Look East asked is there anything to hide?

Mitchell - 'no'

Look East then asked if there was more to come, as suggested by martin king (A Board member who resigned after newell was sacked)

Mitchell - 'there could be more to come if people are out to try to destablise this club. people will look at what is going on, the direction it is coming from, for some unknown reason people have an issue with the way they perceive the club should be run - alot of it is to do with their vested interests elsewhere'

Wherever possible this information is verified prior to inclusion into the site. However if you believe any information or statement is incorrect or unwarranted then please email the Webmaster and we will remove it forthwith. The sites below are not involved with jayten.co.uk.


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