Luton Town chief executive Gary Sweet has stated that the club cannot compete with the 'madhouse' of the Championship when it comes to finances.

The Hatters have only gone up to the division this season, and will be hoping to carry on and achieve their aim of staying in the league.

Luton have one of the, if not the lowest budget in the Championship and have to be prepared to face adversity throughout the campaign as they look to survive in the league for another season.

They will see some of the spending done by other teams, and won't even spend 5% of that in a transfer window, and Sweet is happy to do it their way and not get involved with the high fees.

Talking to the BBC, Sweet said: "We are not in a position where we can lose £13m per year.

"We haven't come into it blindly. We've known all about the financial situation. But we were completely determined to do it our way and really not join in with the madhouse.

"That's really the best way I can describe it. We don't have those people in the boardroom who can just throw dozens of millions or maybe hundreds of millions into the pot over a few years to try and get to that next level."

Can you get 100% in this Luton quiz? Have a go now!

The Verdict

He's spot on and when he says it's a madhouse. It has got extortionate in terms of figures and some owners don't quite know the consequences of what they're doing in trying to get a team to the Premier League.

Luton are currently doing an excellent job in terms of their challenge of staying in the league for another season.

It'll be interesting to see over time whether Luton are to join other sides in the Championship who look to make a gamble with their money or whether they'll keep using their finances in a stable nature.