Power Court is on course as Hatters reveal where Premier League cash went

Luton Town have confirmed that their new home at Power Court remains on track to open in 2028, while also revealing that a fifth of the money they received for being in the Premier League has been spent on the project.

The Hatters, who were given planning permission for what was a 17,500 stadium back in 2019, then had their application for an expanded 25,000-capacity formally approved by the council five years later, following the funds received by promotion to the top flight in the summer of 2023, as they plan to play their first game at the ground at the start of the 2028-29 campaign.

With Town’s coffers being boosted by around £200m after beating Coventry City on spotkicks at Wembley to spend a season in the highest echelon of English football, a breakdown of what was spent, and where, was provided to the Luton Town Supporters’ Trust during its annual financial review with senior club officials recently, chairman David Wilkinson and chief executive Gary Sweet also attending as observers.

It was revealed that 40 percent of the money was invested in players' wages and bonuses, with just over 20 percent of it going on actually buying players themselves, although most of that cash has been recovered through subsequent sales. With 10 percent spent on coaching and player support, then almost 20 percent has been used for the new stadium project, with five percent on Kenilworth Road improvements, such as the new Bobbers Stand and Premier League infrastructure compliance, with the remainder split between other operating costs and taxation.

The club also stated that all profits have been reinvested into the Power Court stadium project and long‑term strategic investment, plus player acquisitions, while there have been no dividends paid to directors from the club’s profits. On how the new stadium is coming along, the article published on the LTST website, said: “Despite the implications of the Middle East crisis, the club is managing this through its procurement plan, and the project currently remains on track.

"With the game-changing increase in revenue Power Court will generate, even after debt repayments the club’s financial position will be significantly improved, especially as it will have a stadium asset on its balance sheet. The strategy and intention remains to pay down a majority of the debt as quickly as possible using development profits from the wider Power Court scheme.”

Town also confirmed it has ‘sufficient headroom’ to afford a competitive budget for manager Jack Wilshere this season, having remodelled its budget to meet the new Profit and Sustainability Rules (PSR), with fees spent on both Callum Marshall and Kasey Palmer, the pair joining free transfer addition George Johnston, plus loan signings Harrison Ashby and Emilio Lawrence in arriving this summer.

Luton, who have had little or no requirement for equity contributions over the last seven years and only £8m of contributions in total since its return to the Football League in 2014-15, don’t also expect to see a major effect from no longer receiving parachute payments this season, as they have stopped with the club in its third season out of the top flight.

Despite a significant decrease in league distributions for the current campaign, this has been offset by player sales from previous years where the club is still in receipt of staged payments, as well as restructuring the squad. This all led Trust chairman, Paul Stephens, to declare his organisation were extremely positive about the club’s financial position, and Power Court’s progress too, saying: “Our discussions leave us encouraged about the club’s financial position and its long-term plans.

"There are challenges ahead, but the foundations are strong, Power Court continues to move forward, and the squad has been strengthened for the new season whilst the club continues to operate in a sustainable manner with a clear focus on the long term. Supporters are understandably eager to understand more about the club’s finances and its future, especially with our move to Power Court coming closer and closer – and with the events of recent seasons.”