Decision details

Repayment of the Council's Loan by Yorkshire County Cricket Club

Reference: D42560

Decision Maker: Executive Board

Decision status: Recommendations Approved (subject to call-in)

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Agree the acceptance of a payment from Yorkshire County Cricket Club in settlement of the Council’s loan.

 

Decisions:

Further to Minute No. 184, 14th January 2009, the Deputy Chief Executive submitted a report regarding an offer from Yorkshire County Cricket Club to repay the outstanding loan that the Council provided in 2005 in order to enable them to purchase the Headingley cricket ground. The report explained the offer to the Council as being part of the Cricket Club’s proposed wider financial restructuring, and set out the matters which the Council needed to consider in determining whether to accept the offer from the Club.

 

Following consideration of Appendix B to the submitted report, designated as exempt from publication under the provisions of Access to Information Procedure Rule 10.4(3), which was considered in private at the conclusion of the meeting, it was

 

RESOLVED – That approval be given to accept a payment of £6,500,000 from Yorkshire County Cricket Club in full settlement of the Council’s loan to the Club.

 

 

Reason Key: Expenditure > £250,000;

Wards Affected: (All Wards);

Portfolio Holder: Executive Member – Resources and Strategy

Other reasons / organisations consulted

None.

Contact: Doug Meeson, Chief Officer - Financial Services 0113 247 4250 Email: doug.meeson@leeds.gov.uk.

Publication date: 24/07/2015

Date of decision: 15/07/2015

Decided at meeting: 15/07/2015 - Executive Board

Date comes into force if not called in: 25/07/2015

Call-in deadline date: 24/07/2015

Accompanying Documents: