SUNDAY’S FA Cup third round game at Luton Town could be a scouting exercise for Wanderers in more ways than one.

From Peter Kioso to Cameron Jerome, Carlos Mendes Gomes to – potentially – Joe Taylor, the Hatters have sent a few players Bolton’s way in recent years as the two clubs continued their respective climbs up the EFL.

Luton reached the summit first with a memorable penalty shoot-out victory against Coventry City in last summer’s play-off final. Exactly how they planned that ascent on a foundation of sensible spending should be of great interest to everyone at Wanderers.

Evatt and the Hatters’ boss, Rob Edwards, go back to their Blackpool days – the pair helping Ian Holloway achieve a similar fairy-tale promotion on a shoestring in 2010.

There has been evidence in recent transfer dealings that the relationship remains a strong one, and though each will be plotting each other’s downfall this weekend in the cup, it is pleasing to think that Bolton’s hierarchy could pick up some tips after the final whistle on exactly how their opponents scaled the heights.

Many an article has mentioned since Luton returned to the top table that the Bedfordshire club actually voted in favour of the ‘new’ Premier League structure back in 1991/92, only to be relegated before they saw any benefit.

Their plummet thereafter towards the financial abyss was arguably the most violent and extensive of any club who still lived to tell their tale. Record points deductions, administration, boardroom mismanagement, and relegation all the way to the National League in 2008 are only page corners turned in a long tale of struggle.

Anyone lucky enough to get a ticket in the away end will see those key moments commemorated around the compact stadium via flags and banners. Luton may be enjoying the high life once again, but they have not forgotten their journey, nor who wronged them on the way down.

Fans saved the Hatters from extinction, and they continue to have significant influence in the direction of the club to this day. But the fact they have now risen to such exalted heights is a victory for their recruitment department, which has utilised a lower-end budget at each step of the way to maximum advantage.

According to Swiss Ramble, Luton’s wage budget in the Championship increased from £14.1million to £17.2m between financial accounts submitted between 2021 and 2022, the latter boosted by performance bonuses.

At the time of their promotion, it was cited by several sources that Luton had the fourth lowest budget in the second tier.

Information for the current year is not yet available – but the Hatters’ incoming transfer spend in the summer equated to something around £22m, including Wolves full-back Ryan Giles, Barnsley centre-back Mads Andersen and Aston Villa midfielder Marvellous Nakamba.

Inevitably, the wage will also have increased, particularly when you factor in free transfers, such as former Chelsea and Everton playmaker Ross Barkley, who was signed from French club Nice. It is still considered, however, that they will have the lowest transfer spend and wage bill of any side in the division.

Rather than how Luton fare this season, or whether they beat the odds, it is their work in establishing a Championship squad which over four seasons finished 19th, 12th sixth and then third – beating Coventry City in the play-off final – which should be of serious interest to Bolton, their own recruitment department, and the club’s owners.

If Ian Evatt’s side succeed in their aim to be a Championship club next season, the financial leap will be a big one.

The Football Ventures consortium has worked thus far on the mantra of “pragmatic progression” which has been easier at a level where Bolton still feel like a big fish in a small pond.

The Championship is a notorious money pit, which has claimed plenty of big clubs and owners with deep pockets. There is no magic formula to be a success – but smart recruitment, along with smarter player trading must surely be at its core.

Luton seem to have found the balance, as have clubs like Coventry, Millwall, Preston and last season’s Wembley rivals, Plymouth Argyle, who are doing a grand job of keeping their heads above water since promotion.

Wanderers say they are ready to take the next big step, indeed, they were even willing to rewards bond investors with a bonus if they achieved their target within the next couple of seasons.

And though the numbers involved are mind-blowing, those rare examples like Luton make it feel achievable.