Town’s work on finding their new home is ongoing says statement

A statement released by the club said: “The independent feasibility study is a process that has been formally under way since the start of 2010, but which, informally, began earlier in 2009.

“The process was started earlier than planned (originally to be started upon achieving financial stability) due to external factors that the club had to be informed upon (Luton expansion; Government targets; credit crunch and subsequent recession).

“So far the club have found and employed a small and trusted team of independent specialists (including a permanent property lawyer and a commercial developer), conducted numerous meetings with relevant parties (especially council and landowners), and have collated as many facts as is possible at this stage.

“This has been happening for over a year and during that time there have been a number of changes in the planning landscape and options.

“Obviously some parties are more forthcoming than others but it is important that the club try and gain as much information as the various parties will allow us access to. The specialists retained by the club lead this process.

“At this point in time the feasibility study has advanced enough for us to know which sites that are practically possible (ie some have been informally ruled out), the issues those sites may bring, and importantly the areas we need to work upon further to ensure the sites are realistic.

“We also have an expert view on what type of people/companies the club would be able to partner with.”

Town are now working towards creating a shortlist of real possibilities.

The statement added: “The next stage is being carried out and we will work with each party to analyse the workable/potential sites with regards to commerciality (short and long term), chance of planning success, and other factors such as environment.

“This will lead us to a shortlist of sites that are possible, available and workable.

“The stage we are at does require detailed work in an ever-changing political environment and a depressed economy.

“Certain options that were possible in 2009 are not possible now, but in some cases they may re-emerge as possibilities when circumstances change, and of course we must know what those changes must be.

“Again, we must recognise this and that also increases the amount of work required.

“We have never set timescales at this stage on publicising details for the exact reason that things can change – in this case the whole economic picture both here and abroad.

“However, we acknowledge that such a process is likely to be a lengthy one.

“Meanwhile, shareholders including Trust in Luton are kept appraised of progress with updates each quarter.”