Sweet insists Luton have been splashing the cash as he confirms Town have broken their transfer record twice

Luton chief executive Gary Sweet insists the Hatters are, for them, splashing the cash in their attempts to build a squad capable of staying in the Premier League this season.

Town go into their first top flight campaign in over 30 years where they will compete against the some of the best teams in both domestic and world football, facing the likes of Arsenal, Manchester City, Manchester United and Liverpool to name just four

They have seen a number of the top sides already invest heavily since the transfer window opened, the Gunners paying £105m for West Ham’s Declan Rice at the weekend and also shelling out £34m on Jurrien Timber from Ajax.

Liverpool have invested a combined £95m on Dominik Szoboszlai and Alexis Mac Allister, while even teams like Newcastle United and Aston Villa have parted with £55m for Sandro Tonali and £31m for Pau Torres respectively, with Spurs bringing in Leicester’s James Maddison for £40m.

Town themselves have made three signings so far, Chiedoze Ogbene on a free transfer from Rotherham United, but they have also broken their own club record fee twice, surpassing the £1.3m spent on Carlton Morris last summer with the additions of Mads Andersen and Tahith Chong from Barnsley and Birmingham City.

Although the fees are peanuts compared to those of their rivals, for Luton it’s a big deal, as speaking to TalkSPORT, Sweet said: “We actually have splashed our cash, for us this is big spending.

"Twice so far we've broken our transfer record and last year we broke our transfer record, and previous to that our transfer record was a little £850,000 for Lars Elstrup.

"So we have got a modest background and a modest experience in that respect, so for us it's not about the money, it's about the process.

“This is now our fourth promotion under our custodianship, so we're used to this process and the process really is the first thing.

“It starts with ‘we don’t change.’

"We have a culture of the way we do things at this football club and that doesn’t change.

"One of those elements is we keep within our budget and our budget is all about making sure that the football club’s long term sustainable.

“So that is the priority over any decision, over any decision to develop the stadium, we have to afford it and that is without racking up debt.

"As throughout the 15 years we've been responsible for Luton Town Football Club, we actually haven’t had debt other than to our own shareholders, so it’s a good situation we're in.

"We're happy with it, we will be spending less than most people, but the way we spend, we think our pound is probably a little bit more valuable than many others.”