Luton confident funds will be found

Brendan Guilfoyle admitted last week that the club would have to sell players if funds were not made available instantly, however that fate could be avoided if a bidder agrees to pump money into Kenilworth Road early enough.

He said: "I sense the need to get there as early as we can and I am hopeful that within the next week we can get to that stage."

He added: "It is important at this stage to respect the confidentiality of the parties. We are where we wanted to be but there is still work to be done to bring the deal to a binding contract.

"They have shown us that they have the money but now we need them to open their wallets.

"The players are getting paid now for the first two weeks of January which they deserve after their recent results."

Guilfoyle also confirmed "more than one" bid has been received for the troubled club.

The deadline for interested parties to lodge a formal bid passed at 5pm on Monday and joint administrator Guilfoyle has confirmed that talks are ongoing with a number of interested groups.

He told PA Sport: "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.

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