MCC raise eye-watering £30m this summer as crucial windfall following the coronavirus shutdown after selling life memberships of the world’s most famous cricket club worth up to a staggering £80,000 EACH
- MCC CEO Guy Lavender says they have received £22.9m from new life members
- A further £7.8m in membership fees is also set to be cleared next month
- The cash injection will enable the £50m redevelopment of two stands at Lord’s
- They have lost millions of pounds due to the cancellation of two Test matches
The MCC have raised a staggering £30million from selling life memberships of the most famous cricket club in the world for up to £80,000 each this summer.
In a letter sent to members on Friday chief executive Guy Lavender reports that the MCC have already received payment of £22.9m from new life members with a further £7.8m in membership fees to be cleared next month, providing a much needed windfall following heavy losses caused by the coronavirus shutdown.
The immediate cash injection will enable the £50m redevelopment of the Compton and Edrich Stands at Lord’s to continue as planned without the MCC seeking external investment, and ensure the club are well placed to cope with the ongoing impact of the Covid-19 pandemic.
The MCC have raised a staggering £30million from selling life memberships this summer
The MCC have lost tens of millions of pounds this summer due to the cancellation of two Lord’s Test matches and myriad other planned events, but such is the allure of joining the exclusive club that they have been able to sell expensive new memberships despite having no guarantee that Lord’s will be able to stage matches in front of crowds next summer.
The new life memberships cost between £7000 and £80,000 depending on the applicants age and life expectancy, with MCC selling 2035 to existing Full Members and admitted 339 new members, who by paying up front were able to jump a 29-year waiting list.
Such is the demand for MCC membership that they were able to charge the existing 18,000 the full annual rate of £500 last summer despite having no cricket to watch without encountering a significant backlash.
Chief executive Guy Lavender (right) says they have received £22.9m from new life members