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Glamorgan CCC agrees financial restructuring
By Pete Hayman
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Glamorgan County Cricket Club (GCCC) has finalised terms with existing lenders and new investors for a financial restructuring that secures its future for "a number of years".
Allied Irish Bank, Cardiff Council and former chair Paul Russell are among those to agree a restructuring of existing loans, which has included an extension to the repayment terms.
Meanwhile, an additional £1.3m has been raised from a group of new investors. GCCC has welcomed the funding, which is designed to place GCCC on a sound financial footing.
GCCC chief executive Alan Hamer said: "As with many other counties Glamorgan Cricket has faced financial challenges for a number of years, so this news is particularly welcome."
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Glamorgan County Cricket Club (GCCC) has finalised terms with existing lenders
and new investors for a financial restructuring that secures its future for "a
number of years".
SAR
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