2025 Annual-report

NOTTINGHAMSHIRE COUNTY CRICKET CLUB 2025 ANNUAL REPORT & ACCOUNTS 58 drive the maximum return for the whole game. If all deals concluded, the stake being sold would result in more than £500m being injected into the professional and recreational game, helping to underpin the long-term financial sustainability of the profes- sional counties and supporting the continued growth of the grassroots game. The club agreed with the principle that the proceeds should be distributed in a way that safeguarded the whole network.The club also believed strongly that there should be guardrails to ensure that this financial injection was used wisely. If managed correctly, it would give the game the opportunity to preserve the traditions it valued, whilst aligning with a format of cricket that was suited to the changing societal landscape: one that could reach new audiences and provide the next generation of members and supporters. Our sport was unique in the manner in which it had embraced re-invention while staying true to time-honoured tradition throughout its history. The values and culture of cricket mattered to us all a great deal, and we wanted to ensure that they were protected.To this end, the ECB retained the ability to control critical elements by maintaining their ownership of the competition. Private investment was unfamiliar territory for county cricket, and this kind of process would have an impact on our sport. But without this cash injection we could not sustain the game’s current structure. We should be honest about that and collectively acknowledge it, Ms Pursehouse said. Maintaining a willingness to adapt and embrace change would be crucial in the years ahead but, if and when we received the level of proceeds expected, they could support the health and sustainability of all corners of our club. We were embarking on a pivotal year forTrent Bridge and as ever we would need members’ support. The Chief Executive then asked if there were any questions. In response to a question from Mr Chris O’Brien about the Hundred sale process, Mr Hunt said that the club would not enter into any agreement under which it was forced to sell shares in the 51% stake that would be gifted to it by the ECB. Ms Peasey said that, as a Committee member, she wanted to inform other members that the work done by the Executive Team on both the Pavilion andThe Hundred had been significant and would secure the financial sustainability of the club over the next decades. Mr David Parker said that he believed that members had not been given enough information about the Pavilion or onThe Hundred. Ms Pursehouse said that, on the Pavilion, the club had only very recently secured the funding. Obtaining a commercial loan involved a lot of detailed work which involved a lot of stakeholders and required time. Similarly, the construction contract required input from a number of parties, including lawyers, and that had just been signed, a day or so before the AGM. It had not seemed appropriate or fair to update members whilst there were still such significant uncertain elements. OnThe Hundred, Ms Pursehouse reminded the meeting that the club had been in the middle of a complex process that was both competitive and highly confidential for several months. As well as giving high-level updates to members when possible, the Executive Team had worked through the detail with General Committee and the Finance, Audit and Risk Committee on behalf of members. Mr David Hume asked about ticketing arrangements for The Hundred, which were very important for a venue such as Trent Bridge. He wondered if the negotiating team could ensure that ticketing and seating policy was not centralised. Ms Pursehouse confirmed that ticketing and seating were items under discussion in the current period of exclusivity. A central model would once again be deployed in 2025, but this may change in future years, and members would be kept informed. In response to a further question from Mr Hume, Ms Pursehouse said that the capital distribution model for the sale of The Hundred had been agreed over the summer of 2024, but the exact timing of when funds would be distributed had yet to be determined. On the issue of how the money was spent, there would be guardrails in place so that it could only be spent in certain sustainable ways; more would be known at the end of March. The club had deliberated at length, Ms Pursehouse said, about what to do with the 51% share that would be gifted to host venues by the ECB. Whilst it made sense for some clubs such asYorkshire to sell their entire stake, and for some clubs such as Lancashire to sell a portion, Notting- hamshire had decided to hold on to its 51% stake for now.This decision was made after lengthy discussions with the Finance, Audit and Risk sub-committee and the General Committee. Mr Martin Cawthorne on Zoom observed that the members had to rely on those leading the negotia- tions on behalf of the membership and so far, the Chief Executive and her team appeared to be doing a great job. Ms Pursehouse then invited Mandy Wright to address the AGM. MsWright began by saying that her team’s purpose over the past year, as ever, had been to use our sport, our venue and our place in the community for the greater good. That mantra drove everything, and would guide her team as they embarked upon a period of reflection, having just come to the end of their latest four-year strategy.