Luton chairman Mike Watson-Challis has confirmed his club have bought 55 acres of land near Junction 10 of the M1 to build a new stadium.

Watson-Challis is to start work on securing planning permission to build a ground on the site and hopes the stadium, as well as the recent appointment of Joe Kinnear as manager, bodes well for the Hatters' future.

He said: "This demonstrates our long-term commitment to once again make the club a major force in football.

"Since I took a controlling interest in the club in June last year, I have been negotiating to purchase the land in order to provide every opportunity for the club, the fans and the town itself to protect the long-term future of their football club, here in Luton.

"Along with the club's project directors Eric Hood and John Mitchell, I will work exhaustively over the coming months to secure appropriate planning permission.

"I believe our dream and vision can become a reality and begin a new era for the town.

"Without doubt we will need to work with and have the support and understanding of many other people, and trust that our efforts to build a brighter future for the club will become a catalyst for other regenerative opportunities.

"The town of Luton, despite recent events, has promising times ahead - and if we all work together we can build a better future and become a model for others to follow," he told the club's official website.