The Marylebone Cricket Club (MCC) proposed redeveloping two stands under a two-stage agreement but stated that the initial sum proposed by contractor Graham "significantly exceeded what was agreed with members."
The MCC announced it has begun determining a new cost for rebuilding its revised stand at Lord's after failing to agree on a price with its original contractor, Graham.
The Northern Irish construction firm was tasked with the reconstruction of the Tavern Stand, as well as the demolition and rebuilding of the Allen Stand. The project was estimated at approximately £60 million.
However, the works were halted when MCC could not reach an agreement on the cost, which would have increased the stadium's capacity by more than 1,000 seats.
The club prioritized the restoration of the Allen Stand due to its critical structural condition, proposing to undertake this task as a single-phase fixed-price project.
Work on the Allen Stand is expected to begin in autumn next year and be completed by spring 2027, in time for the summer Ashes series against Australia.
In an updated statement to club members, MCC chair Mark Nicholas said:
"Following the decision not to proceed with the concurrent redevelopment of the Tavern and Allen stands, we will present members with a new proposal for the Allen Stand. Subject to approval in 2025, our property director is already working on revised cost plans. The tender process will begin at the end of November."
In the autumn, MCC also stated it would not disclose the exact size of the difference between Graham's initial proposal and its own estimate, noting only that "the gap was substantial."
Lord's remains a vital part of cricket's history and future, making this project critical to the stadium's development.