The England and Wales Cricket Board (ECB) has urged creditors to find wider solutions to Durham County Cricket Club’s historic debt and revenue issues.

The ECB letter to Durham County Council and the North East Local Enterprise Partnership (NE LEP) comes a week after the sport’s ruling body imposed draconian sanctions on the club as the price of a £3.8million bailout.

Financial restructuring still leaves two loans from the council outstanding, totalling just under £4million.

In a statement the ECB said: “If the club is to develop a sustainable long-term business model and preserve its status as a First Class County and an international venue, we need an approach which has the support of all creditors.

“In our letter to the Durham County Council and the NE LEP, we have proposed measures to restructure the club’s debt, offering a return to prospective future investors and ensuring creditors have the best opportunity to get their money back.”

Ian Thompson, county council corporate director for regeneration and local services, said the authority is aware that the agreement is only part of the package to secure the cricket club's future.

He said: “While we know the club is experiencing financial difficulties it’s important to say it has delivered huge financial benefits to the county and wider region and is a key aspect of our sporting and cultural offer.

"It also delivers community and grassroots benefits that have been extremely valuable to those who have been touched by them."

He added: “A decision on this matter would need to be taken by cabinet and we will therefore ensure these discussions take place in the public domain.”