Derbyshire County Cricket Club is pressing forward with funding applications for a £3.65 million redevelopment of the County Ground following further talks with Derby City Council.
Representatives from the Club and the Council met to review potential options for ground development and established that the only viable option within the City of Derby is the redevelopment of the County Ground.
Whilst the Club has still not ruled out a move to an alternative location elsewhere in the county, they will now pursue additional funds to augment their existing redevelopment budgets.
The Club has already gained £1.7 million in ECB funding and is now looking to secure an additional £1.9 million in loan and grant funding to secure the development of a 7,000 capacity outdoor amphitheatre capable of hosting international cricket, concerts and community events.
The development would include a new Media Centre, an extended Conference, Events and Business Centre and upgraded facilities for members, spectators and players with a view to being eligible to bid for an ICC World Cup game in 2019.
The total redevelopment cost is estimated at £3.65 million and, with the Council’s support, the Club will begin to look at sources of external funding from Europe, the Government and the D2N2 Local Enterprise Partnership.
The Club hopes to secure a significant proportion of the funding on a grant and extended loan basis, with repayments generated by the conferences, events, weddings and concerts that will be hosted at the redeveloped County Ground.
Chief Executive Simon Storey said: “Now we have clarity on the Council’s position, it’s clear that the only option available if we are stay in the City is to secure external funds to deliver the planned redevelopment of the County Ground.
“We will, therefore, pursue the funding opportunities with the various bodies in the coming weeks and revisit our business plan projections and development plans accordingly.
“The challenge will be to demonstrate that we can realistically deliver a sustainable return on our investment. And that return needs to not just meet any loan repayments but also allow us to increase the investment in our playing and coaching resources.
“In parallel, we feel it’s prudent for the Club to continue with its evaluation of alternative options elsewhere in the county, as well as continuing our recently announced off-field operations review as we seek to reduce our on-going costs and balance our existing budgets in the short term.”
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