Cricket : Durham relegated for financial issues

[Zidane]

Durham relegated to Division Two after financial issues as Hampshire are reinstated

Cricket (BBC)
Durham have been relegated from Division One of the County Championship over financial issues, with Hampshire being reinstated.
The North East county have also lost the right to stage Test cricket at their Riverside ground.
Durham have accepted a £3.8m financial aid package, which has been approved by the England and Wales Cricket Board (ECB).
They will start next season in Division Two with a 48-point deduction.
Durham will also face a four-point penalty in the 2017 T20 Blast and a two-point deduction in the One-Day Cup.
Additionally, the club will be subject to a revised salary cap from April 2017-2020, with the level determined annually by the ECB board.

Durham's home is the most northerly Test venue in the world
All prize money from ECB competitions, except for player awards, will be withheld until the club's debt to the national governing body is cleared.
Why have Durham been docked points?
The steep penalty has been accepted by the club after they accepted help from the ECB in managing current and historic debts.
"The financial package and associated conditions approved by the ECB board reflect the unprecedented seriousness of Durham County Cricket Club's financial situation," said ECB chief executive Tom Harrison.
"To help them through these difficulties and continue as a first-class county, this had to be addressed with immediate, practical financial assistance."
Why did Durham need the bailout?
In August, chief executive David Harker called a meeting of the players to reassure them that the club was not going bust and all contracts would be honoured following rumours about their financial situation.
Talks followed, however, with the ECB, who said they wanted "to ensure a successful and sustainable future" for the club.
All-rounder Scott Borthwick and opening batsman Mark Stoneman are both moving to Surrey for 2017, which will alleviate some of the salary pressure on the club.
And the unprecedented bailout will allow Durham to continue to pay their players' salaries, meet the costs owed to Revenue and Customs and operating bills and settle "a substantial debt to a secured creditor", who has not been named
David Harker, DCCC Group chief executive said: "We are clearly disappointed at the position we are in and the sanctions we have accepted, particularly for the players and staff who have worked so hard to keep us in the First Division.
"It is important that the club addresses its serious financial challenges and puts the business on a sustainable footing and therefore we have had to accept the conditions offered by ECB.
"Other counties have faced serious financial challenges but have been able to find other solutions including private investors without this reliance on ECB."
The Professional Cricketers' Association, meanwhile, is to meet the Durham players to discuss the situation.
"I have emailed all Durham players today to assure them that they can call myself or other PCA staff should they need advice or support during this uncertain period," said chief executive David Leatherdale.
Reaction to ECB decision
Durham captain Paul Collingwood, who came through the academy ranks at Chester-le-Street, said on Twitter that he was angry his side had been relegated.
The 40-year-old former England all-rounder signed a one-year contract extension in July through to the end of 2017 to commit to his 22nd summer of county cricket with the club.
"Yes I'm angry, yes I'm devastated along with all the other players at this great club but far better being in Division 2 than none at all," Collingwood tweeted.
Hampshire chairman Rod Bransgrove said he felt sympathetic towards Durham's plight although happy at his club's reprieve.
"It's been a very difficult time in county cricket, especially if you have one of these big grounds to maintain," Bransgrove told BBC Radio Solent.