In response to an article published by a newspaper this morning, Luton Town Football Club has issued the following response:
Our first embargo for a decade is simply an anomaly brought about by an unsynchronised timing of financial reports due to the pandemic.
The Club’s 2019/20 accounts, whilst finalised, have yet to be signed off by our auditors which will be done well before the statutory deadline.
Given the exceptionally difficult operating environment caused by the pandemic and the requirement to continue to play “behind closed doors”, financial forecasts have rightly been scrutinised much more thoroughly, and Companies House provided an extension of the statutory filing deadline to June to create sufficient time to complete this additional work accurately. Indeed, the club will publish unqualified accounts before the end of April.
However, EFL rules couldn't be adjusted to meet the Companies House extension and require that signed accounts still needed to be submitted in March, which the club was unable to achieve. The matter will be resolved as our auditors conclude the report in the next couple of weeks.
We would like to reassure all of our supporters that this situation will not affect any of the Club’s plans for the summer transfer window, which does not open until the end of the current season, and makes no difference to the day-to-day running of the Club currently.
There is certainly no 'financial Armageddon', as the article's headline sensationally claims, at Kenilworth Road.