9 Jan 2008'More than one bid' received for Luton Town

The administrator of Luton Town has revealed that "more than one bid" has been received for the club.

Although Brendan Guilfoyle said last week that the club would be forced to sell players if new funds were not made available instantly, Luton's 1-1 draw with Liverpool in the FA Cup on Sunday has given him hope that a conclusion to the crisis can be reached without major staff upheaval.

With the prospect of a lucrative replay at Anfield to come, several groups lodged their interest in buying the club prior to the passing of the formal bid deadline at 17:00 GMT on Monday.

However, Mr Guilfoyle said it is still vital that a binding contract is signed with one of the parties as soon as possible - and as such has moved to ensure money is injected into the club at the first available opportunity.

"We have more than one bid which is obviously good news. We are now in the process of getting one bid to the stage of being the preferred bidder and then entering exclusive negotiations," he told ESPN.

"The price of that is for one party to start funding the club straight away. We are asking for that to test their commitment."

Mr Guilfoyle expects an agreement to be reached within the next week.

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