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SBD Global/May 21, 2013/Finance

Business Rates Are Next Big Test For Owners Of London's Lord's Cricket Ground

London's Lord's Cricket Ground owners are "fighting a battle over business rate increases described as 'just not cricket,'" according to Dominic Walsh of the LONDON TIMES. The home of the Marylebone Cricket Club is one of four of the six Test match venues for this summer’s series against New Zealand and Australia that "have lodged appeals over big increases in their business rate charge" -- in the case of Lord’s, from £1M ($1.5M) to almost £2.3M ($3.5M). According to research by business rates consultancy CVS, the most recent increase in rateable values "has lifted the amount that the Treasury could collect from the six grounds" by £2.5M ($3.8M) to £4.5M ($6.9M). In addition to Lord’s, Chester-le-Street, The Oval and Trent Bridge "have lodged appeals, with only Old Trafford and Headingley yet to appeal" (LONDON TIMES, 5/20).
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