MCC launches debenture scheme to fund improvements

Marylebone Cricket Club (MCC) has announced that it is to launch a new debenture scheme to help fund ambitious ground development schemes at Lord's.

The new debentures will cover some of the best seats in the ground, in the upper tiers of the Grand and Mound stands and will be priced at between £8,000 and £12,000. Holders will have a range of benefits, including the right to purchase tickets for eight seasons – from 2007 to 2014.

The proceeds from the scheme will be used to help fund improvements, including the installation of three new combined scoreboards and replay screens – at an estimated cost of £2.75m – and the refurbishment of the Mound stand, which had a new 'tented' roof installed last winter.

The MCC hopes to complete the installation of the new screens by the beginning of the 2008 cricket season.

Feasibility studies are also being conducted into the viability of increasing the overall capacity at the ground. The MCC would like to return to a number in excess of 32,000 – before legislation changes came into play, several thousand spectators could be accommodated between the boundary rope and perimeter fencing.

The MCC is following the lead of the All England Club and the Rugby Football Union, which used debenture schemes to help fund the rebuilding of Centre Court at Wimbledon and the South Stand at Twickenham. The schemes have significantly increased the capacity of both venues.

The funding would mean the MCC has invested £75m in Lord's since its bicentenary in 1987. Major projects include the NatWest media centre and the MCC's indoor cricket school.