Canterbury City Council has approved to loan Kent County Cricket Club £1.5 million.

A full council meeting last night rubber-stamped the loan, an investment the authority believes will secure the club’s long-term future in the city.

It comes on top of £4 million already lent to the club, which supported the first stage of the St Lawrence Ground redevelopment.

Liberal Democrat leader Cllr Alex Perkins praised the club’s honesty and openness.

He said: “They’ve been transparent about the recent poor finances, but in the last week have declared they are now on an even keel and in profit.

“I firmly believe there’s a strong future ahead for the club. They are not just part of the community, but part of our education system and support the game’s development at grass roots."

Leader Cllr John Gilbey (Con) added: “The club have realised the St Lawrence Ground can’t be sustained purely on cricket and the redevelopment is already beginning to bear fruit.”

The ground’s revamp has already seen retractable floodlights installed and houses built on land previously owned by the club. Sainsbury’s will be occupying a new retail unit at the ground, while the club remain hopeful of finding a hotel developer for the Old Dover Road side.

Chairman George Kennedy witnessed the loan’s approval from the Guildhall’s public benches.

He said: “The city council have been absolutely fantastic in their continued support.

“The reason we’ve come back to them for a top-up loan is so we can press on with the rest of the development while we wait for progress on the hotel. With the contractors already on site, it makes perfect sense for us to complete as much work as we can.

“We’re hopeful of moving forward with the hotel and are well-advanced with negotiations with one particular party. In the next week or so, we hope to meet with them again and things are certainly moving in the right direction.”