Agreement was reached between the two parties in relation to the ownership of the lands and buildings at the Mardyke in Cork — known as the Richard Beamish Grounds — which has been occupied by the club since its foundation in 1874.
A dispute had arisen as to the ownership and rights of the premises.
However, yesterday’s settlement provides that Beamish & Crawford retain the freefold of the premises and the Cork County Cricket Club has been given a 150-year sporting lease to continue its long tradition at the venue.
In addition, a substantial sponsorship arrangement has been agreed between both sides.
Alf Smiddy, Beamish & Crawford managing director expressed his delight at the resolution of this matter.
“We are very pleased that this issue has been resolved to the satisfaction of both sides,” he said.
He added that both parties were now looking forward to “a long and happy association between our respective organisations” which, he said, would be enhanced by the sponsorship agreement in particular and the willingness of both sides to make these arrangements work to their mutual satisfaction.
A spokesman for the cricket club said: “This is an historic and positive day for cricket in Cork. This agreement ensures the survival of cricket in one of the most beautiful and historic areas of Cork.
“We look forward to developing the club and the game now that this matter has been concluded,” the spokesman said.
He added that the club would now embark on a very positive relationship with their sponsors and landlords and he thanked all concerned for their support in concluding the lease and agreement.”
That agreement was yesterday approved by Judge Michael Hanna in the High Court in Cork.