The Club would like to remind Members of the upcoming Annual General Meeting (AGM) which will take place in The Point at Emirates Old Trafford on Thursday 30 May.
The AGM (4:15pm start) will form part of the Club’s T20 double header, as Lancashire Thunder take on Central Sparks (1pm start) in the Charlotte Edwards Cup, before Lancashire Lightning play Durham (7pm start) in the Vitality Blast. Those attending the AGM will also be able to enjoy the exclusive facilities on offer in The Point - with a complementary buffet, as well as a free drink token provided. Following on from the AGM, and only accessible for AGM attendees, there will also be a high-quality cricket panel hosted by Warren Hegg, with guests David Lloyd and Phoebe Graham previewing the Vitality Blast and Men’s T20 World Cup.
This year’s AGM is important, and we urge Members to support the Club and exercise your vote, as we work together to achieve our goals and vision for Lancashire Cricket, both on and off the field. If you’re unable to attend on the day, Members are – for the first time – able to vote digitally. Click here to cast your votes on a number of important issues.
The Club has also been made aware of queries regarding the level of debt. To confirm, as per the financial statements for the year to 31 December 2023 – the Club’s debt currently stands at £32.2 million. This is sustainable given the level of revenue Lancashire Cricket is generating. We would recommend Members to vote themselves given the number of resolutions. We ask you to support your Club and make your own vote count.
We would also like to re-iterate – as discussed at the recent Members’ open house sessions earlier this month, that the Board – who are unpaid volunteers – all have personal liability, as part of their fiduciary duties. Any decision they make must be in the best interests of the Club, by law. This is why, in the Club Rules, if there are specific decisions that are of a financial or strategic nature, they are reserved for the Board, as Members do not have any personal liability. As the Club has previously stated, the Board has committed to full transparency, continued consultation and debate with Members, as more detailed proposals emerge from the England & Wales Cricket Board regarding the future ownership of Manchester Originals.
The diversification of the revenue streams at Emirates Old Trafford will continue to underpin Lancashire Cricket’s long-term future. The Club has built a large business off the field, designed to specifically support the Club’s cricket activities and aspirations and the Board deserve great credit for stabilising the organisation’s finances and building a strong platform for the future. It is worth noting that several other First-Class Counties are facing serious financial issues, as domestic cricket alone is not sustainable. We need to invest to keep international cricket at Emirates Old Trafford and to build on other revenue streams.
Lancashire Cricket will continue to re-invest any surpluses into the cricket department, whether that be in the new ground at Farington or other cricket facilities, into the men’s and women’s squads, development of Second XI or the pathway system. This would not be possible without a sustainable and successful business model.
Thank you for your support of Lancashire Cricket so far this season and to those that have either watched the men’s team in Blackpool or Lancashire Thunder at Emirates Old Trafford this weekend, either in person or via LancsTV. We hugely appreciate your continued support of the Club.
We once again urge Members to vote on these important issues that will impact on the future of Lancashire Cricket. Click here to vote!
