Mcc Debenture Plan Angers Members

The introduction of a new debenture scheme by the MCC to fund structural
improvements at Lord’s has come under attack from the cricket club’s members.

The debentures, priced between £8,000 and £12,000, incorporate the right to
buy tickets at Lord’s for eight seasons – the additional funding aimed at
raising over £13m to go towards improving the ground.

However, existing MCC members have voiced concerns that the increased costs
will price them out of the market with only corporate customers buying the new
schemes.

There are currently 18,000 full members and 4,000 associate members of the
MCC.

The current maximum annual subscription, entitling the member to enter the
ground on every matchday, is £344.

Lord’s sustained substantial damage earlier this month when high winds caused
havoc across central London.

MCC chairman Charles Fry defended the plans, commenting: ‘Improvements are
essential if Lord’s is to retain its world-class status. We are duty-bound to
take decisions in the interests of the game, the ground and the club as a whole.

‘The debentures in the Mound Stand are currently all owned by MCC members.
Indeed, they have priority status when it comes to buying the new issue, and I
would be delighted if they bought every seat that it covers.

‘But if they don’t, we need to ensure that all the debentures are still sold.
Only then can we maximise our investment in Lord’s and, in the process, maximise
its chances of retaining its current share of major matches – as all our Members
would wish.’