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League One side Luton Town have been placed into administration.
The directors of the club decided to appoint administrators as a result of the Hatters' decreasing income.
"This will give the club breathing space and an opportunity to restructure its finances," said Brendan Guilfoyle of administrators The P&A Partnership.
Luton, who face a points deduction for taking such action, are looking for prospective buyers to put proposals to the creditors before end December 2007.
haha sell the club, then the new owners can come out with the "it's a different regime now, the mistakes by the old regime are not our fault" line, thus avoiding further penalties. See West Ham/Spurs.
no, 10 point deduction. leeds was a special case, and iirc swindon were already relegated and so were re-relegated, and it was due to "financial irregularities" rather than going into administration
Luton placed into administration 
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