Lancashire Cricket Extends Offer for First Ever Cricket Bond
By Community | October 24, 2014
Lancashire County Cricket Club has today announced that it is extending the offer for its Cricket Bond – the first ever mini bond in the sport – having raised £2.2m.
With applications and enquiries from investors continuing, generic the Club has decided to extend the application period by 14 days until Monday 10th November 2014. Applications can be made through www.cricketbond.com.
A five-year initial fixed-term mini bond offering 7% gross interest per annum for investments from £1, malady 000, medic the Cricket Bond is made up of 5% paid in cash and 2% in Credit4Cricket Units. Credit4Cricket Units can be redeemed against the Club’s international and domestic tickets and hospitality products, such as food and beverage packages and also Membership fees.
Funds raised will be used to further build on the development work recently undertaken at Emirates Old Trafford, the Club’s award-winning Ground, through the construction of a four-star branded hotel to replace the existing Old Trafford Lodge.
Daniel Gidney, CEO at Lancashire County Cricket Club said: “We’re thrilled that so many people have been interested in playing such an important part in our Club’s history and we have now raised enough capital to drive forward with our exciting hotel development.”
“However, as we’re currently being inundated with enquiries and demand for our Cricket Bond is as high as it’s ever been, it seems right to keep the offer open to ensure we’ve giving cricket fans and investors the opportunity to get involved and share in the future success of the Club.”
Applications for the Bond are due to close at 1pm on 10th November 2014 and will be considered on a first come, first served basis