Talks with Luton bid suitors continue

THE administrator of Coca-Cola League One side Luton has confirmed “more than one” bid has been received for the troubled club and that they hope to be in exclusive talks with the winning bidder within a week.

The deadline for interested parties to lodge a formal bid passed at 5pm on Monday and joint administrator Brendan Guilfoyle has confirmed that talks are ongoing with a number of interested groups.

He said: “We have more than one bid, which is obviously good news.

“We are now in the process of getting one bid to the stage of being the preferred bidder and then entering exclusive negotiations.

“The price of that is for one party to start funding the club straight away.

“We are asking for that to test their commitment.”

Guilfoyle admitted last week that the club would be forced to sell players if funding was not made available instantly.

Chairman David Pinkney had agreed to fund the losses of the club out of his own pocket but that deal expired at the end of the year, leaving Guilfoyle facing up to selling the likes of Wales midfielder Dave Edwards, captain Chris Coyne and midfielders David Bell and Matthew Spring.

That fate could now be avoided if a bidder agrees to pump money into Kenilworth Road early enough, and Guilfoyle is confident of a positive outcome following Sunday’s morale-boosting 1-1 FA Cup draw with Liverpool at Kenilworth Road.

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