After much talk and speculation, the time has finally come for Warwickshire members to vote on the future of their club.
Members are to be asked at the end of the month to approve a special resolution that amends the club's constitution. It arguably represents one of the most important moments in the club's 126-year history.
If the club's executive is successful in winning approval for the resolution, it will give them the green light to progress the much-needed redevelopment of Edgbaston. If the membership are unconvinced, the club's long-term future will be jeopardised. There are no contingency plans.
The club requires two-thirds of the returned votes to approve of the changes to pass the resolution. Voting forms and explanatory letters will arrive with members over the next few days and a vote will be taken at the club's annual general meeting on February 27.
The most eye-catching amendment concerns the club's ability to borrow money. It is proposed that the club increase their borrowing limit from £5 million to £20 million or "such greater sum as the committee shall determine from time to time."
Furthermore, it is proposed that the maximum interest on any borrowing is increased from one per cent above the published base rate of the club's principal bankers to three per cent or "such other rate as the committee shall determine from time to time."
Other key changes involve the governance of the club. Formalising a situation that has developed anyway, the club propose that a management committee with executive powers replace the unwieldy committee structure. Though the general committee will remain, their role will become to review and supervise.
The club's management are also seeking more freedom to enter into partnerships, sponsorships and other agreements that will enable them to widen their revenue-raising powers. Such a move would open the door to a ground sponsorship; a la The Brit Oval.
There may be some unease from members at the enormity of the potential debt, but it is likely that most will approve the proposal. Without the redevelopment, the club will fall further behind other Test venues (Edgbaston has slipped to fourth in terms of capacity after Lord's, The Oval and The Rose Bowl) and, as the large financial losses of last year prove, the ground is not sustainable without international cricket. It is time to grasp the nettle and back the resolution.
Further challenges await, even after the resolution is passed. Funding and business partners must still be secured, while issues over compulsory purchase orders continue to loom menacingly.
Approving the special resolution would be a major step forward, however. It would be the first tangible piece of progress in the long-awaited development process.
It is anticipated that the bulk of the £30m required to build the new pavilion will be financed by a £90m redevelopment running right up to and along the Pershore Road. The club are hoping not to need to borrow more than £15m, of which some could be arranged at preferential rates from sympathetic partners such as the England and Wales Cricket Board and, possibly, Birmingham City Council.
Meanwhile, the team management are making plans for a mini pre-season trip. With the tour of Grenada cancelled, the club are likely to embark on a three-day team-building exercise somewhere in the United Kingdom.
