Members of Northamptonshire County Cricket club have voted to change the ownership of the club at an EGM held last night.

The proposal will allow for 10 to 15 major investors, most of whom already have links to the club as supporters and benefactors, to provide a minimum investment of £25,000 each. Existing NCCC Members will also have the opportunity to buy shares with a minimum subscription of £250. A new limited company will then be formed, becoming the owner of NCCC.

An overwhelming majority (86%) of members voted in favour of the resolution to make the club a limited company. The Board will therefore look to implement this proposal as quickly as possible.

The passing of this proposal will mean considerably reduced debt for the club, lower interest payments, and most significantly, less dependence upon finance from other external sources.

Gavin Warren, chairman of Northamptonshire County Cricket Club, said: “As a Board, we are not just concerned about this year, next year and the year after. Our priority is to ensure that the club is functioning and prospering in 100 years’ time. We feel this proposal makes that much more likely.

Gavin went on to speak of his delight at the result, “This gives us a solid platform I believe we can build on. There will be more money to invest in players, coaching and youth development as well as the non-cricket and commercial side of the club. It will mean a much stronger, long-term sustainability for the future.”

Season ticket memberships and other ticket arrangements will continue as per the current format, and existing Life Memberships will be honoured.

Ray Payne, Chief Executive said “It was a key objective last year to develop a strong income stream away from the pitch and a key strategy of the board was to strive for financial independence from the ECB.

“I am delighted our members have chosen to support this venture. It will mean we are able to further maximise the assets of the club and continue to prosper both on and off the pitch.”