Hatters will receive Gray cash boost after all

Luton Town have confirmed they will receive a financial boost after former striker Andre Gray helped Burnley to promotion back to the Premier League last weekend.

Friday, 6th May 2016, 1:01 pm
Updated Friday, 6th May 2016, 2:07 pm

It was thought that Hatters would have to wait a year to see if the Clarets could have a ‘successful Premier League spell’ which would lead to an additional payment of around £700,000.

However, the News/Gazette can reveal Luton will receive a portion of that amount, thought to be over half, now, with the rest payable should Burnley avoid relegation back to the Championship.

Hatters have already made around £900,000 from the original sale of Gray to Brentford, including a first payment of £300,000 by the Clarets when signing him back in August.

Town could end up seeing their coffers bolstered to the tune of around £2.4m, as they are also in line for two further payments of £400,000 over the next two seasons as well.

When asked about whether he will get the money to strengthen his squad, boss Nathan Jones said: “I think there’s a clause in place if Burnley got promoted, then a little bit of a knock on clause if you like that Luton benefited from.

“I don’t know the exact figure, but we’re pleased to have it because everything that is received goes into the budget, goes into the stadium planning, so it’s all good for Luton Town.

“I’m not too concerned with the exact figure is or what it will do to my budget as that’s something for Gary (Sweet, chief executive) to sort out and the board as it all goes into the good of Luton Town.

“My budget will be my budget regardless of anything else, so anything else we get goes towards the good of the club.”