Durham Council has approved a rescue package to secure the future of the county’s cricket club and avoid losing £3.7m it granted in loans.
Last week the council approved a request from the England and Wales Cricket Board (ECB) for the authority to convert its outstanding loans to the club into redeemable preference shares in a newly-formed community interest company (CIC).
Want full article access?
Receive The MJ magazine each week and gain access to all the content on this website with a subscription.
Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.
Already a subscriber? Login
