Home   Canterbury   News   Article

Kent County Cricket Club chairman George Kennedy loans club more money for St Lawrence Ground redevelopment

Kent chairman George Kennedy
Kent chairman George Kennedy

Exclusive by Glenn Pearson

Kent chairman George Kennedy has loaned the club another significant sum of money to help finance the next stage of the St Lawrence Ground redevelopment.

It’s the second time the club’s chairman has dipped into his pockets to help bail the county out after having loaned a six-figure sum in 2010 - which he says has yet to be paid back.

Mr Kennedy’s revelation comes a week after Kent secured an additional £1.5 million loan from Canterbury City Council, which is to be added to the £4m already lent to the club in a bid to help finish stage two of the redevelopment of St Lawrence that includes a Sainsbury’s convenience store, new club offices and three residential flats.

Asked whether his original loan had been paid back in full, the chairman said: "No, and I have put a fair bit more in as well, but that is really just a cash flow problem to keep us going until we get the hotel up and running and we get the money in from that.

"If we had stopped all the building work we would have had to get the builders back when we did have the money - so what we have done is helped to finance it in the meantime to make sure the building work continues and can be completed, so I put a bit more money in."

The club are due to meet with an international hotel operator again this week as they look to conclude the final piece of the redevelopment project.

For the full story, see today's Kentish Gazette.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More