Lancashire in rude health
Lancashire have announced a profit after tax of £185,174 for 2007 despite the poor weather during July and August.
Cricket match receipts grew by four per cent boosted by a Test which went to a fifth day, while their non-cricket related activities continue to play an important part in Lancashire’s financial success, with car park business and concert revenues generating £267,000.
Lancashire chief executive Jim Cumbes said: “With much of the club’s profit going towards increased staging fees, it limits the amount of funds available to invest back into the ground, which is going to be critical for the clubs with larger grounds, which of course includes Old Trafford.
“Lessons must be learnt from the 1970s and 80s when international grounds fell into decline due to lack of profits from international matches which in turn led to lack of investment.”
Lancashire will move into phase one of the ground’s redevelopment in 2008 and work will commence in mid-August on a new state-of-the-art drainage system and the installation of a new main scoreboard for the start of the 2009 season.
This will continue with the building of a new £12m conference and banqueting facility early in 2009.
