The MCC Committee met yesterday and reaffirmed its decision, taken on 30 November 2011, to focus on developing Lord’s Cricket Ground on the Club’s freehold land only, and with its own resources.
On 2 February 2012, the property developers Almacantar put a revised offer to the Committee to proceed with residential development of 275,000 square feet on the Club’s leasehold land at the Wellington Road end of the Ground.
This offer, subject to a number of conditions, including a satisfactory planning consent, amounted to £100million in cash and a contribution of £10million towards supporting young cricketers.
MCC President, Phillip Hodson, will be writing to Members shortly to update them on the situation.
Furthermore, the long-term plan for Lord’s will be on the agenda at the Club’s AGM on 2 May.
Oliver Stocken, MCC Chairman, said:"The Committee has confidence in the Club’s ability to self-fund a redevelopment scheme on MCC’s freehold land, and to continue to invest large sums in youth cricket at home and abroad.
"It believes this is the best way to ensure Lord’s maintains and enhances its reputation as the pre-eminent cricket ground in the world and for MCC to demonstrate its commitment to all levels of the game."
MCC during the past five years has committed, together with its projected expenditure for 2012, £8.64 million to youth cricket.