League One side Luton have entered Administration today, seeing the club earn a ten point penalty.
The club have earned over £5million profit in the transfer market in the last year, but are struggling with mounting losses and falling gates after demotion from the Championship in the summer.
The average attendance at Kenilworth Road is down by over 2,000 on last season's 8,540, with recent gates dipping under 5,000 as the club struggles at the wrong end of the table. Two Directors resigned today, and the club were given 17 FA charges earlier in the week for failure to disclose payments to agents.
The Hatters will move to the bottom of the table on just nine points, seven points adrift of safety.