Lancashire Cricket Club in £10m funding deal
LANCASHIRE County Cricket Club has secured £10m funding from NatWest towards the redevelopment of its Old Trafford Cricket Ground.
The funding, which comes hot on the heels of the £2.65m invested by the Northwest Regional Development Agency last week, will be used towards a £12m, 1,000 seat conference and events building overlooking the pitch, next to the existing Pavilion.
The new conference building is the first phase in a a wider £200m sports-led regeneration scheme of Old Trafford Cricket Ground and the surrounding area, which aims to bring long term commercial and community benefits to Trafford.
A development partnership, involving Manchester-based ASK Developments, Lancashire County Cricket Club, Trafford Council and Tesco has been formed to drive the project.
Demolition of the existing Tyldesley, County and Jubilee Suites has already begun, with the new conference and events facility scheduled for completion in June 2010.
Lee Morgan, finance and operations director at the club, said: “The driving force behind our redevelopment plans is to secure the future of international cricket in the region.
“However, the conference and events element of our day-to-day operation is an important part of our successful business strategy, and is core to funding of the club’s cricketing activities.”
