Nathan Jones New favourite

Hi Pelly, what a wonderful time for Luton supporters! All the very best for next season!
You say that Nathan Jones was supported by a brilliant board; what do you think are the characteristics that make them so brilliant and successful? As far as I know Luton is not a rich club so what’s the secret that has brought you so far so quickly?

 

And he will certainly know some Luton players. Maybe we could have some back

 

Thanks.

Honestly, it is what one might call old fashioned values. The club is owned by die hard Luton born fans who bought it for a £1 when we were bankrupt and have run it on a shoestring with no money from millionaires or anyone else pulling the strings. They have fantastic community values and really imbibe making it a grassroots bottom up club with a mission to unite the 'crappiest' town in Britain with some hope. They deeply actively work to make the club a bridge between a different communities in a troubled town. They banned betting advertising years ago. They had a clear and steady plan for progression and have a very clear policy for purchasing players. Absolutely no show ponies, only players who are modest and will work their socks off. They believe and seem to succeed in convincing players to come because of their integrity and ethos and knowing managers and players will be treated well. There is a tight budget and they use it well. I think we were all shocked when we spent £1.3mn on Morris. it will be interesting to see how they manage it in the Premier league, just one free transfer signing so far and I doubt they will blowing money around. They have set a wage cap of £15,000 which will count out last chance premier league players wanting to come for last big pay day. Listen to any interview with chief executive Gary Sweet, you will get a flavour. (9) Gary Sweet on the Hatters' promotion to the Championship - YouTube

 

Luton lost £6.4m to 2022 and £2m to 2021.

Nothing like the likes of Brentford/ Bournemouth but another business model that needed success and in their case they got it.

 

The myth of sustainable football clubs is literally, a myth.

 

Couldn’t stand him - came across like a total whining whinge bag. Doubt he’s even considering a club at our level anyway so hopefully that pans out to be true.

 

Yes, Covid did really hit the figures - made £3mn the year before Covid and will have made money this year again.

 

So in the absence of COVID the model is successful both from a playing point of view and financially. Very impressive.

 

Cumulative losses of £24m suggests a slightly different story.