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Financially-stricken Durham have secured a financial rescue package from Durham County Council which will further help to secure the future of professional cricket in Englands most northerly outpost.Durham County Council has agreed to convert loans of ￡3.74m into shares, so freeing the county from interest payments on long-standing debts.Under the ECB-brokered settlement, Durham County Council has agreed to convert its debts into redeemable preference shares. The ECB has restructured Durham as a community interest company, which enables it to distribute up to 35% of profits - should they become available - to shareholders.The council has received interest payments of around ￡700,000 on their loans since 2009 - variously charging 4.7% and 7% annually on the loans. The councils own calculations state that with interest rates at record lows they would only have made ￡140,000 interest in the same period by conventional investments. The agreement follows the ECBs own ￡3.8m rescue package, which included writing off nearly ￡2m of its own loans to the county.That bailout came with punitive measures: the sacking of the Durham board, relegation from Division One of the Championship and penalty points in all three competitions at the start of next season.But Durham can stage ODIs and T20Is and it is here, combined with stringent cost cutting and a growth in their mediocre T20 attendances, where it is hoped future profitability lies.The terms of the ECB rescue package were enforced by the ECB after Durhams long-standing failures to attract investment into the club brought their financial problems to a head this year. Payments to service debt interest were running at nearly ￡1m a year.The ECB told the council that only one party - unnamed - had showed interest, but the approach was rejected because of their fit and proper person guidelines, which are designed to prevent clubs being bled dry by investors without its best interests at heart.Council representatives were told if they also failed to agree to the rescue there was a significant risk that the club would enter administration, leaving the bulk of their loan lost. Durham County Council already owns the land the clubs Riverside ground is built on, and leases it to the club.A cursory Durham statement said: The clubs difficult financial position was brought to a head earlier in the year by the unexpected calling in of a long term loan and the challenge of securing, in time, private development investment.The club is pleased that this has been achieved without the need for significant public debt write off as has been the case elsewhere in cricket.Durhams secrecy has long been illustrated by their refusal to reveal the identity of two long-term financial backers in the Middle East who are no longer involved with the club.Durham County Council has shown rather more detailed commitment to local democracy than the cricket club it has now helped to save.A council report available here states: DCCC had hoped that commercial and residential developments on the site could have provided much needed financial security but it was unlikely that these benefits could be realised quickly enough.Over the last three years the council has worked with DCCC to significantly reduce their costs with circa ￡1million in costs taken out of the business - mainly from a significant reduction on player costs.Similarly, the council has worked closely with the club to drive forward commercial development of the site including a hotel and conference centre which would help derive additional income for the club.Without additional financial support from the ECB via an all creditor agreement and a restructuring of loans or a significant injection of capital from an alternate source, the club could not continue to run on a solvent basis and across the summer appointed an insolvency practitioner to advise the Board on options available to it.The appointed insolvency practitioner (RSM UK) undertook soft market testing to gauge interest in purchasing the club across the summer, although they were unable to find suitable buyers.There has been less support so far in writing off or converting debts into equity from other creditors.Both CR Financial Solutions, a London-based company which focuses on real estate, bought out Durhams outstanding bank debt of ￡788,000, and the North East Local Enterprise Partnership, is owed ￡771,000. Both have been unresponsive. The clubs outgoing directors depart with collective debts of ￡415,000 still owed to them.The ECB is expected to take on the bank debt from CR Financial Solutions, so protecting the future of the ground, and further increasing its own indebtedness.It has already agreed to write off nearly ￡2m of loans and, as part of the deal, has withdrawn Durhams Test match status, a convenient solution to the recognition that the dash for growth over the past decade or so has left more grounds seeking Test fixtures than are sustainable. Cheap NFL Jerseys China . Robinson finished with 17 points, all but two in the second half, and Lawson had 14 after halftime and finished with a game-high 11 assists as the Nuggets handed Dallas its first home loss in eight games this season. J.J. Hickson led Denver with 22, and Kenneth Faried added 10 points and 10 rebounds. 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Cheap NFL Jerseys Wholesale .Y. -- Syracuse has turned up the defence at the right time all season, and when High Point threatened to pull off a monumental upset the second-ranked Orange did what they do best with their quick hands and savvy play.MILWAUKEE -- A Wisconsin woman said Friday she is still a Milwaukee Brewers fan, even though security at Miller Park asked her to leave a game after she changed her Ryan Braun jersey to read "FRAUD." Karen Eidem, 37, of Pewaukee said she papered over the letters "B" and "N" in Brauns name with the letters "F" and "D" on the back of her Brewers shirt after the slugger accepted a season-ending, 65-game suspension after admitting to violating baseballs rules on performance-enhancing drugs. "A lot of fans complimented me on the jersey," Eidem told The Associated Press in a telephone interview. "It was all meant in good fun. It wasnt meant to be derogatory." Eidem said security tapped her on the shoulder while she was standing with friends at the ballpark Wednesday night. She said she was told her the modified shirt violated the fan code of conduct, and that she would have to change the shirt or leave the ballpark. Eidem turned the shirt inside out and stayed for the game.dddddddddddd Eidem said she later looked up the code and saw that clothing or body art could not be profane or offensive. She said she didnt understand why the word "FRAUD" would be offensive. WTMJ radio (http://bit.ly/1734arj ) says the Brewers later issued a statement saying security staff should not have interfered and offered Eidem another game ticket. "In this case, the fan absolutely should have been able to wear the jersey without any intervention by our staff. We welcome the opportunity for fans to express their opinions," the Brewers said in a statement Thursday. "The only circumstances that would warrant us intervening is if someone were to display a message or item that would be considered offensive to other fans. "This is not a case where that line was crossed, and were sorry for the inconvenience to her." Eidem said shes been going to Brewers games "since I was a kid" and still is a fan. "I think it was just a misunderstanding," she said. ' ' '