'Private' underwriter ensures Hagley Oval plan

Last updated 05:00 15/02/2014

Related Links

Dreaming, scheming for Hagley Oval's big day

Relevant offers

Cricket

Trent Boult, Corey Anderson need tune-up ahead of Black Caps' Aussie test odyssey Cheteshwar Pujara holds firm for India against Sri Lanka Black Caps coach Mike Hesson happy as talent pool deepens for busy summer England's Ian Bell quits one-day internationals to prolong test career Phillip Hughes' death to be subject of judicial inquiry from NSW Coroner Ashes 2015: Luck really is a fortune Australia secure tense ODI win over Ireland Rankings dip the only tangible loss from Black Caps African tour Wellington and Christchurch to host New Zealand versus Australia cricket tests South Africa beat Black Caps by 62 runs in ODI series decider in Durban

A private, anonymous underwriter will ensure the Hagley Oval cricket development goes ahead irrespective of whether Canterbury Cricket can raise the required funds in time.

Canterbury Cricket boss Lee Germon said an underwrite was not likely to be required as the Canterbury Cricket Trust's fundraising was going well.

But if they stumble, a white knight will ride in on his or her horse and save the day, ensuring Christchurch will not be in danger of missing out on Cricket World Cup action next year.

"The trust has secured a level of funding to allow the project to be completed," Germon said. "That includes an underwrite aspect to it."

A "private underwriter" who wishes to remain anonymous has promised to chip in for any shortfall in funding.

The Christchurch City Council have chipped in $1 million to help build the embankment and develop the pitch, the latter of which has already been done.

The pavilion will cost $9m while the retractable lights are another $8m, but Germon said that was now likely to happen after the World Cup. The consent to build the light towers lasts five years.

Yesterday marked one year to go before the opening match of the tournament, between New Zealand and Sri Lanka at Hagley Oval.

Ad Feedback

- Fairfax Media

Special offers
Opinion poll

Should bouncers be banned from cricket?

Yes - they're too dangerous

Neutral - it is what it is

No - it's just bad luck when it goes wrong

Vote Result

Featured Promotions

Sponsored Content