LCCC hits bond target

Lancashire County Cricket Club has raised £3m through its first-ever retail bond, to fund the development of a four-star hotel to replace Old Trafford Lodge.

The five-year initial fixed-term mini bond is offering 7% gross interest each year for investments from £1,000. The return is made up of 5% paid in cash and 2% in Credit4Cricket units, which can be redeemed against the club's international and domestic tickets and hospitality products, such as food and beverage packages and also membership fees.

Daniel Gidney, chief executive at Lancashire County Cricket Club, said: "We're excited to have beaten our target for the Cricket Bond, which has enabled us to put investment back into the sport through the development we're planning at the iconic Emirates Old Trafford.

"Not only has this been an extremely successful business initiative – but it has enabled our supporters to play a leading role in the future of this great club. And there is still time for people to get involved."

Further applications for the Cricket Bond can be made until Monday 10 November.

Your Comments

Read our comments policy

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox

Subscribe

Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below