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Council rescue package to save cricket club

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.

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By Dan Peters | 20 October 2016

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).

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Dan Peters

Popular articles by Dan Peters

  1. NAO blames council audit backlog for failure to sign off Government accounts
  2. Councils 'hamstrung' on net zero
  3. Rayner: Prescott was an inspiration to me
  4. New anti-social behaviour powers planned for councils
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