The decision to uphold Leeds United's 15-point penalty for coming out of administration through the 'special circumstances' route could hold up the return of Luton Town's golden share.

LTFC2020 fear that the Football League may have to draw up specific guidelines for clubs exiting administration and, as a result, it would hamper them in their transfer market dealings.

However, they have been buoyed by the independent commission's ruling that the 15-point penalty should not serve as a precedent to other clubs in a similar position.

LTFC2020 director Stephen Browne said: "We at 2020 are pleased that the things we have been saying to the Football League have been coming out in the arbitration's findings, namely that the insolvency guidelines should be made clearer than they currently are and that the 15 point for Leeds is not a precedent.

"The full circumstances of a football club pre and post administration actions should be taken into account on a club by club basis. We don't think it (15 points) should be automatic but I'm not they won't give it.
"We are not necessarily expecting a different decision but we think we have two or three different factors."

He also admitted that if the roles had been reversed Luton would probably not have had the financial clout to appeal in the same way as Leeds.

Browne added: "If nothing else what it's done for all football clubs is it has gained a commitment from the Football League to clarify and write down rules for what the situation is."

For the full story pick up your copy of The Luton News.