Nick Owen is leading a consortium that will invest an initial £10 million to take Luton Town out of administration, it was announced shortly before last night’s FA Cup third-round replay against Liverpool at Anfield.

The BBC Midlands Today news presenter, a lifelong Luton fan, is heading up a group that includes Steve Foster, the club’s former captain. Owen is due to become the non-executive chairman of the Coca-Cola League One club once the deal is ratified by the administrators, the FA and the Football League. “It’s fantastic for me and I hope it will be just as good for the club,” Owen said. “No more players will be sold unless it’s for the good of the club.”

He added that the club would consider relocating from Kenilworth Road, but that it was too soon to comment on the future of Kevin Blackwell, the manager, who gave notice of his resignation last week when two key players — Chris Coyne to Colchester United and David Edwards to Wolverhampton Wanderers — were sold without his knowledge for a combined £1 million. Brendan Guilfoyle, the Luton administrator, said: “I’m certainly hoping this brings an end to the trouble at the club.”

The club, docked ten points after going into administration, are in the relegation zone and Blackwell remains angry that players have been sold behind his back. He was not even aware of Owen’s successful bid when he arrived at Anfield last night. “That’s what makes me angry,” he said. “We don’t know what’s happening day to day. It might be nice if the players got paid after this. The supporters tonight showed Luton Town is a club worth saving.”

Asked whether it might persuade him to stay, he said: “ I don’t know. I’ve made my decision and I’m usually a man of my word.”