Luton Town chief executive Gary Sweet says the club’s long-awaited move to a new stadium at Power Court remains on track financially as the project enters what he described as a crucial stage.
The Hatters have been pursuing a move to the new site for ten years, with initial plans for a new ground first unveiled in 2016 before the project was delayed by the impact of a High Court pursuit by the former shopping centre owners, the COVID pandemic and subsequent redesign work after the club got a cash injection for reaching the Premier League in 2023. A revised proposal for a 25,000-capacity stadium was eventually approved by Luton Council in December 2024.
Work on the site has now begun in earnest, with the club targeting the start of the 2028/29 season for their first match at the new venue. Preparations have included major infrastructure work such as rerouting the River Lea and relocating a power sub-station, while the process of piling – installing deep vertical supports to form the stadium’s foundations – began earlier this year and is now 80 per cent complete.
Providing an update in his programme notes ahead of Saturday’s 1-1 League One draw with Stockport County, Sweet said several major elements of the project are currently being finalised simultaneously.
“This is a particularly important period in the development of the project, with several key commercial components coming together at the same time. That includes appointing our construction management contractor and our primary site contractor, structuring funding agreements and progressing a range of commercial and procurement activities – all of which needs to synchronise harmoniously.
“It’s an intricate process, involving multiple stakeholders, and it requires careful integrated management to ensure everything aligns, but it’s all in a very good place. The work is being approached professionally and diligently, with great care, by the whole project team, with every aspect subject to detailed scrutiny by independent auditors and technical consultants on behalf of lenders and authorities.
“No project of this scale gets this far without full and proper scrutiny by independent bodies, all of which we’ve calmly embraced and delivered satisfactorily.
“We’re pleased with the progress being made. Over 80 per cent of the piling is now complete, the substructure for the West Stand is well underway and the general construction process is sound and on budget.
“As in any construction project of this scale, there will always be external factors beyond our control that we must keep a watchful eye on, but so-far-so-good and we’ll soon see the structure rise from the ground.
“With the changing landscape, Power Court is a once-in-a-lifetime opportunity for us and the town itself. It’s our best and only opportunity to elevate both to the outside world and one we simply must take if we truly want to be ambitious for both.”
While progress continues on the new stadium, Luton suffered a blow in their bid to return to the Championship at the first time of asking when they drew with Stockport on Saturday, leaving them five points outside the League One play-off places with seven matches left to play.
With the possibility looming larger of failing in their promotion push Sweet insisted Luton remain committed to operating within sustainable limits amid growing concerns about spending levels across the division.
“Turning briefly to the wider game, we will be submitting our annual accounts this month, as we always do. As ever, we continue to plan responsibly and with a clear focus on sustainability. While we prepare for different scenarios, our current planning reflects the realities of League One, even as we ensure we are ready for whatever may come next.
“Once submitted, the Trust will be invited to examine them and ask questions of our CFO Tom Schofield and others, as they do every year. What is becoming increasingly clear across the division, however, is the ever more concerning financial landscape. The figures being reported by clubs are, in many cases, eye-watering. Significant losses are being recorded, and player wage inflation over the last two seasons has risen sharply – in some cases dramatically.
“As things are, it’s simply not a sustainable model, and there is a growing recognition across the game that something needs to change. There are ongoing, productive discussions around regulation and self-regulation amongst ‘League One owners’, and while there are differing views across the leagues and stakeholders, the objectives are clear.
“Further ahead, the Independent Football Regulator will begin to have a significant influence on the game over the next two to three years, starting with its licensed ownership modelling and a fresh look at owners’ and directors’ tests. We warmly welcome its arrival as the game clearly needs better governance. Our position, as it always has been, remains consistent.
“We will do everything we can to operate within a financially sustainable model. It’s not always the easiest path, and it doesn’t always deliver short-term advantages, but it is the right one for the long-term health of the club.
“It also aligns with our plans on the football side where we need to re-introduce some old-fashioned basic Luton principles into the squad to enable us to retain our rising ambitions. Frankly, this is why our new stadium is so critical to our future.”
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