Brendan Guilfoyle, joint administrator of Luton Town Football Club, today Tuesday 15 January 2008, has reported progress in the sale of the football club.

A newly formed company, Luton Town Football Club 2020 Limited, has been set up to purchase the club and has made a loan to Luton Town Football Club, which buys them a period of exclusivity until end February 2008 while a sale is negotiated. Any purchase will be conditional upon the approval of the Football League and the Football Association.

Brendan Guilfoyle said: "This is a very positive development and represents the light at the end of the tunnel that players, staff and supporters have been waiting for since our appointment in November 2007."

In the meantime the administrators continue to run all aspects of the Football Club.

Luton Town Football Club 2020 Limited is a newly formed company set up specifically to acquire Luton Town Football Club. It is funded by a number of business people who support the club.