Statement from David Harker, DCCC Group Chief Executive
“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.
"However, we continue as a First Class County, will host international cricket and have a platform to stabilise and develop Durham County Cricket Club.
"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.
"We will continue to work with the ECB to promote cricket in the North East and are committed to securing a successful sustainable future for Durham County Cricket Club”.
The statement below from ECB explains in more detail the sanctions imposed on us:
COMPETITION: Durham will be relegated to Division Two of the Specsavers County Championship and start the 2017 season with a 48-point penalty in this competition. As a result of this decision, Hampshire will remain in Division One of the Specsavers County Championship, in accordance with ECB’s competition regulations. Durham will also start the 2017 season with a four-point penalty in the NatWest T20 Blast and a two-point penalty in the Royal London One-Day Cup.
FINANCIAL & GOVERNANCE: All non-player related ECB competition prize money due to Durham for the 2016 season to be refunded to ECB or withheld until all debts owed by the club to ECB have been settled. The club will also not carry out any future capital redevelopment works without ECB’s prior agreement.
SALARY CAP: Durham to be subject to a revised salary cap from April 2017 to April 2020 under the ECB’s Team Salary Payment (TSP) Regulations, set at a level to be determined annually by the ECB Board.