The MCC are ‘investigating a misappropriation of funds’ after their 2023 financial accounts revealed ‘money had gone missing’… as cricket club announce record income after enthralling Lord’s Ashes Test
- The MCC said that they would be ‘conducting a review of their financial controls’
- The club found that ‘money had been missing’ when filing their 2023 accounts
- The 2023 Ashes Test at Lord’s helped the MCC amass record revenues of £67m
The Marylebone Cricket Club (MCC) has reportedly announced to its members that ‘external agencies’ are currently ‘investigating the misappropriation’ of the club’s funds.
As reported by The Telegraph, the news broke during the MCC’s annual general meeting at Lord’s on Wednesday afternoon, with the outlet claiming that the probe relates to ‘money that has gone missing’.
The newspaper also states that the club’s treasurer, Chris Rogers, informed members that ‘solicitors’ were looking into the cause of the missing funds and that the historic cricket club would also be reviewing their financial controls.
The MCC enjoyed a fruitful year in 2023, announcing record high revenues for the last 12 months, with the historic cricket club banking a £67.8million off the back of the enthralling second Ashes Test at Lord’s.
Australia claimed a 43-run victory against England during that match, that saw them take a 2-0 lead in the series. Jonny Bairstow was also dismissed in contentious circumstances, while several MCC members were issued with suspensions for shouting abuse at Australia’s players in Lord’s long room.
Speaking during the AGM, Rogers added, per The Telegraph, that he was unable to reveal more details on the case but added there were no concerns over the ‘integrity of the 2023 accounts’.
‘I want members to know we are currently investigating some misappropriation in the club,’ he said.
‘This is subject to investigation by external solicitors and I am unable to provide much more detail at this point.’
‘However I can say the integrity of the 2023 accounts and earlier periods is not in question.
‘What it highlights to me, coupled with a small number of control items that emerged during the year-end process, is that it would be a good idea to review the club’s processes and controls and this will take place in the next few months.’
Mail Sport has conctacted the MCC who were unable to make a statement on the matter.
In 2022, the MCC recorded earnings of £59.1m, but has seemingly grown it’s revenue thanks in part to several sponsorship partnerships with brands including JP Morgan, Carlsberg, Veuve Clicquot and Hawes & Curtis.
During 2023, the MCC made £27.2m in gate receipts, while the club also pocketed a further £20.6m from hospitality sales.
On Wednesday, the club also announced that former Bank of England governor Mervyn King would take over as the MCC’s new president.
King, who led the Bank of England for 10 years, also sits in the House of Lords and will assume his post in October.
