New initiative will allow public to buy shares in Lord's Nursery End
Wednesday 25 April 2018 16:25, UK
Members of the public will be able to buy a piece of Lord's famous Nursery End under a new scheme announced on Wednesday.
The New Commonwealth consortium, headed by former England captain David Gower and former MCC Chief Executive Keith Bradshaw, are proposing to sell shares, costing around £500 each.
If there is enough interest from potential shareholders, New Commonwealth will be able to buy the land from current leaseholder Charles Rifkind.
The deal would bring to an end Rifkind's attempt to build luxury apartments on part of the Nursery End behind the Lord's media centre. The development would have part-funded the rebuilding of Lord's but was voted down by MCC members last year.
The MCC still plan to push ahead with their plans to redevelop the ground - the new Warner Stand reopened last year while the Compton, Edrich, Tavern and Allen stands will be rebuilt with their own funds.
Gower, a non-executive chairman of New Commonwealth, said: "Some of my fondest memories are from playing in this ground, so I'm delighted that people from across the world will be able to join me and purchase their own piece of this historic and iconic ground.
"The pride, profits and benefits of property investment has been the preserve of the few for too long, so I'm delighted to work with New Commonwealth to give everyone a chance to own part of these magnificent locations."
