Lord’s cricket ground could be set to receive £150m of investment, including £98m in its Tavern and Allen Stands and Thomas Lord Banqueting Suite.
A development proposal to rebuild the stands, a pavilion at the Nursery End and two apartment blocks is to be put to MCC members via a green paper this week.
The so-called Morley Plan takes its name from the architect involved is one option (David Morley), with the alternative being a Masterplan for Lord’s drawn up on the club’s own initiative.
Under the new Morley Plan a second 3,760sqm pavilion at the Nursery End would be built and naming rights offered to corporations in return for an annual donation to sporting charities.
Corporate events, which at present take place in the temporary hospitality marquees, could then be staged in the pavilion.
The financing of the Morley Plan would be provided by the sale of the apartments.
Architect David Morley told The Times that the plan’s centrepiece two-storey Nursery pavilion would provide a flexible first floor banqueting space and “could become one of the most sought-after event spaces in London”.
“Our proposals also include a multi-level food village opening on to a handsome new plaza by the east gate,” Morley added.
The Morley Plan has been underwritten by Charles Rifkind, who holds the head lease on the tunnels under the ground.