Lancashire County Cricket Club Extends Bond Offer After Raising $3.5M

Lancashire County Cricket Club on Friday announced it is extending the offer for its Cricket Bond, having raised £2.2M ($3.5M), according to Adam Jupp of the MANCHESTER EVENING NEWS. The LCCC said that it wanted to raise £3M ($4.8M) to "help pay for a new hotel at its Emirates Old Trafford home." It has now given investors an "extra 14 days to get on board." Those interested now have until Nov. 10. A "five-year initial fixed-term mini bond" offering 7% gross interest per annum for investments from £1,000 ($1,600), the Cricket Bond is made up of 5% paid in cash and 2% in Credit4Cricket Units. LCCC CEO Daniel Gidney said, "We're thrilled that so many people have been interested in playing such an important part in our Club's history and we have now raised enough capital to drive forward with our exciting hotel development" (MANCHESTER EVENING NEWS, 10/24).