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NCCC repay Northamptonshire County Council £1million


Northamptonshire County Cricket Club’s debt to Northamptonshire County Council has been significantly reduced as the club repay £1million.

In 2014, the club borrowed £1.9 million against ECB one off payments in 2018 and 2020. The England and Wales Cricket Board has paid all first class cricket clubs £1m a year in advance of expected payment, thus, enabling Northamptonshire to reduce its debts by more than half.

Cabinet member for finance Cllr Robin Brown said: “We are delighted to have been able to support the cricket club and it goes without saying how much we welcome such an early repayment. We believe it is vital to work prudently with this county’s great sporting institutions to safeguard first-class sport events in Northamptonshire."

Repayments to the local authority now stand at £900,000.

NCCC have also had the facility of £250,000 available from Northamptonshire Borough Council, though the club has not drawn down any borrowings from this.

In a statement Ray Payne, Chief Executive of Northamptonshire County Cricket Club, said “This unexpected early debt repayment to the County Council not only reduces club debt significantly but also compliments the clubs aspirations to become a new limited company. Shares in the new company, NCCC Holdings are attracting a lot of interest from members and the Northamptonshire Business community.”

Gavin Warren Chairman, spoke of his “delight” to have been able to repay the council such a significant amount early.

He said: “I’d like to thank them for their continued support over the last three years. We are now well on the way to fulfilling the clubs aspirations of being debt free within the next four years.”

 

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