New Year Message

On behalf of the Trust in Luton Board I am taking this opportunity to wish all Trust members, and Luton Town supporters generally, a very Happy New Year.

There is no such thing as a quiet year in the life of Luton Town and 2015 was no exception.

Unfortunately we cannot escape the fact that performances and results in 2015 were well below the level expected.  Even our most optimistic fans know that we can’t win every match but our league record over the full calendar year was closer to relegation than promotion form and, when viewed against the size and standard of the first team squad, the team, for whatever reasons, underachieved in 2015.

We have previously recorded our thanks and appreciation to John Still for all his successes and achievements at the Club and now, like all fans we wait for the announcement of a new manager who can build on John’s work and move us in the right direction again during 2016.

The big news of 2015 off the field was the announcement by the Club in December that Power Court, in the centre of Luton, is the preferred location for the long-awaited new stadium.  That’s “long-awaited” as in more than 50 years rather than just the last eight.  As a shareholder in the Club, Trust in Luton has been involved in some of the discussions regarding relocation and were also party to the company restructuring that the Club undertook in November as a necessary part of the relocation plans.

The restructuring – like all important Club announcements – was set out in the match-day programme (Plymouth – 24th October) but not all supporters have regular access to the programme or take the time to read it, so this is a good opportunity to let you know about the Trust’s involvement with these important issues.

Ever since the involvement and (continued) investment of the 2020 consortium enabled the Club to come out of administration in 2008, Luton Town Football Club has been owned and managed through a single limited company – Luton Town Football Club 2020 Limited, and Trust in Luton has been a shareholder in that company.

Following the sale of Kenilworth Road to Luton Borough Council back in the late 1980’s the Club did not own its own stadium or any other significant property assets.  For the first time since then there is now a genuine prospect of a new stadium and, following extensive legal, planning, financing and other property advice the Club has recently been restructured to facilitate both the ownership of the new stadium and the financing to pay for it.

As a result, Luton Town Football Club 2020 Limited is now a 100% owned subsidiary of a new Luton Town Holding company, which also owns – for now – the new stadium/property company.

The ownership of the new Luton Town Holding company is exactly the same as Luton Town Football Club 2020 Limited was prior to the restructuring; we (like all other shareholders) agreed to swap our shares for exactly the same number of shares in, and percentage ownership of, the new Luton Town Holding company.  So we retain a shareholding interest, we are bound by a shareholder agreement and we continue our regular dialogue with the Club, as before

With planning consent not yet applied for, the financing of the new stadium is probably some way from being finalised but the Club has already indicated that it intends to use the land at Junction 10 – which was acquired in 2015 – to enable the development of the new stadium.  The full details of the stadium, the financing and the enabling development are for the future and we confidently expect to be party to the relevant discussions.

As a Trust we fully support Power Court as the new stadium location, believing it to be the best site for both the Club and, as importantly, the Town of Luton.  We will support the Club in its efforts to move to Power Court, recognising there are obstacles to overcome, and we believe our position reflects the views of most, if not all, supporters.

Finally, a couple of quick updates.  Don’t forget to support our Quiz Night next Thursday evening, 14th January at the Club – all proceeds will be going to this season’s designated Supporters’ Charity – LAMP.

We are also very close to unveiling our new website and introducing our new membership database, followed soon after by our 2015 AGM – details to follow.

Best Wishes for 2016

Tony Murray

Chairman

Trust in Luton

Speak Your Mind

*

Visit Us On TwitterVisit Us On FacebookVisit Us On YoutubeVisit Us On Instagram