Owen found fame on breakfast TV with Anne Diamond in the 1980s

The Luton Town Football Club 2020 Limited, led by Owen, has had an offer for the club conditionally accepted.

Contracts were exchanged before Luton's 1-1 draw with Millwall on Tuesday and the Football League is expected to confirm the deal in the next few weeks.

"We are on the way to being owners," Owen told BBC Radio 5 Live.

"The bottom line is that Luton Town Football Club is secure and will live to fight another 100 years."

Luton - third from bottom of the League One table - remain in administration and the consortium will not take control until the takeover is completed.

606: DEBATE Thank you 2020, for giving us our club back harfordisgod

The Hatters suffered a 10-point deduction after going into administration and have seen several players sold to balance the books during a difficult period for the club.

"Basically we are in and it's a very exciting thought but we still have to get out of administration and that takes time," added Owen, who is the public face of LTFC 2020 Limited.

"There will be people from our consortium working in the offices and taking decisions now.

"Unfortunately we won't be able to sign players, even on loan, before the deadline which is a real blow as we've lost half a team.

"I would never say we're resigned to relegation but it does remain a huge possibility - we have to keep going despite the 10-point deduction and the fact that we're down to 15 or 16 fit players."

I can say to the fans that the club is in great hands Luton boss Mick Harford

Luton boss Mick Harford, who replaced Kevin Blackwell at the helm in January, said the development was a major boost to the club.

"I'm absolutely thrilled for the 2020 lads. They have worked tirelessly for the club behind the scenes over the last seven or eight months," he said.

"I know it is fronted by Nick but there are a lot of others there too and I can say to the fans that the club is in great hands and has a safe future as far as I'm concerned.

"They have got a magnificent business plan and prospectus which I have read at length and they are keen to secure a new stadium and put the club on the right road."