The success of Lancashire's first-ever retail bond has enabled the club to start planning the development of a new four-star hotel at Emirates Old Trafford.
The Red Rose have surpassed the £3million they were hoping to raise to help fund development of a new complex to replace the existing Old Trafford Lodge, generating £3.4million in total from over 500 applications.
The Lancashire County Cricket Club five-year initial fixed-term bond offered seven per cent gross interest per annum for investments from £1,000.
The interest was made up of five per cent paid in cash and two per cent in Credit4Cricket Units, which were redeemable against the club’s international and domestic tickets and hospitality products, including food and beverage packages and also membership fees.
Lancashire chief executive Daniel Gidney told the club’s official website: “We are delighted with the success of our cricket bond, which beat our original investment target with five days to go.
“We received over 500 applications and are very grateful to all our investors, especially Lancashire members and supporters who will play a leading role in the future of our club.”
