Town could be set for a sizable windfall if former full-back Kevin Foley completes a rumoured move from Wolves to Sunderland.

Roy Keane's Premiership side have been linked with a £2.5million bid for Irishman, sold by Luton to Wanderers in August last year.

Hatters have a 15 per cent sell on clause on any deal over £750,000, which would mean they would benefit to the tune of around £262,500.

However, the LTFC2020 consortium bidding to take over the Hatters will not see any of the money if the 23-year-old is sold before the club gets out of administration.

LTFC2020 director Stephen Browne said: "It would be a great thing for the club or it could be a great thing for the creditors.

"If he was to be sold before the club is signed over, it would go to Luton Town Football Club and their creditors. Whatever happens we will have no control of the timing because neither club have to talk to us at all."

If the consortium does benefit from the windfall, it is most likely that the money would be spent on youth development.

Browne said: "Mick (Harford) already knows what he has got to work with."

Foley played 166 games for Luton in all competitions between July 2002 and August 2007.

He has spent just one season at Molineux, but Keane is believed to have been keeping close tabs on the former Republic of Ireland U21 international who has played 42 games in the Coca-Cola Championship.

Meanwhile, the Hatters have received a £250,000 bonus after West Brom's promotion to the Premier League – part of the deal which took Leon Barnett to the Hawthorns in the summer.

That money will go straight into the administrators' coffers and will be distributed among the club's debtors.

Browne said both the Beds FA and English FA were supportive of their takeover, but at this point they are no closer to knowing when they will be given back their 'golden share' by the Football League.

Neither are they any closer to finding out about any potential penalty, but have been told that possibilities could be as punitive as a 20 point deduction.

Reports yesterday had indicated the club was set to be handed a 15-point penalty, but this was refuted by fellow 2020 director Gary Sweet. He said: "It's not been confirmed that Luton Town will get a 15 point penalty next season. It's not official and it's not been put out by ourselves, the administrator or the Football League."

On the FA investigation into alleged financial irregularities, Browne said: "People that have been asked to give their views and evidence to the hearing going on this week.

"We are hoping to hear the outcome by June 4, which we have been given as a notional date."

Browne also admitted that the club has been having in-depth discussions with at least five players from other clubs about signing for next season.

They have been given an indication of the terms Luton can offer them, but because of the club's current situation no deal can actually be finalised.

Browne added: "The fact that they are talking to us means they are still keen to come. It's a very difficult and tip-toe time."