The 2007-08 campaign was a disastrous season of financial and sporting crisis for Luton Town, culminating in The Hatters finishing 24th in League One and suffering relegation to the fourth tier. The club's fate was largely sealed by a crippling 10-point deduction after entering administration in November, a blow the team could not recover from despite a managerial change. Leading the line were joint top league goalscorers Matthew Spring and veteran Paul Furlong, who both netted 12 crucial goals. The campaign's highlight was a resilient run to the League Cup Fourth Round, where they narrowly lost to Premier League Everton after extra time, a brief moment of defiance in a year that tragically marked the beginning of their dramatic fall through the leagues.