Luton manager Nathan Jones admitted his side couldn't compete with Bristol City's wage offer to keep Kal Naismith at the club.
The Robins signed the defender on a free transfer earlier this summer, completely out of the blue, even to the surprise of the Hatters who later released a statement questioning City's etiquette over the way the deal was completed right under their noses.
The 30-year-old was a hugely influential figure for Luton and Jones last season, captaining the side to a play-off finish where they fell short in the semi-final to Huddersfield.
Shortly after, Naismith became City's second signing of the window following in Mark Sykes' footsteps and penning a three-year deal to join Nigel Pearson's side. His arrival is largely considered a coup for the club after he was named Luton's Player of the Year.
Jones claimed the club did everything they could to convince Naismith to sign an extension at Kenilworth Road but were "blown out of the water" by City's offer. He also suggested their Championship rivals remain envious of their pay structure.
Reported by Luton Today, Jones said: "We knew we were exposed with Kal Naismith, we tried everything we could to keep him and we weren’t able to and no problem with that.
"When someone blows you out of the water with finances, there is nothing you can do to compete with that.
"Kal came here as right winger, left back, centre half, he was cover for a number of positions, really versatile. We lost Rhys Norrington-Davies, so we needed a left-sider to fill that, Kal wasn’t Rhys, he was different. Then we worked with Kal, we found a position for Kal and in a year’s work he’s gone to be at the time the best ball-playing centre half in the league.
"Now without us, Kal wouldn’t have attained that and without Kal, then we wouldn’t have been such a strong position. It's really sad, but that’s life, we did try everything we could.
"A few things happened through the season and so on, and then once he went to the open market, it’s very difficult for us to compete with other Championship clubs who are envious of our pay structure, but can blow it apart. But that’s the way we’re run and we’re very proud of the way we run our club and what we do."
Naismith explained his decision to leave Kenilworth Road under the abrupt circumstances, praising his former manager for having a huge impact on his career.
He said: "Luton were unbelievable for my career, the manager was absolutely brilliant, he was amazing - I can’t thank that club enough. Honestly, I will always love everyone at that club.
“But it was just a decision where I spoke to my family: let’s leave it to the end of the season so I can really focus on my football and that’s what I did.
“Then I sat down with my family over 10 days, and there was a lot of deliberating, it was tough. But after speaking to the manager, and when you see the club, the facilities and what the club can be, it was just a massive draw for me and the right next step for my career."
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