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Lord’s owner MCC has decided not to take a stake in one of the new Indian Premier League (IPL) franchises.

Keith Bradshaw, the MCC chief executive, had previously admitted that a deal was being considered in a move that could have seen IPL matches played at Lord’s.

But following an MCC committee meeting, Bradshaw said: "After a healthy debate and a thorough investigation, MCC's committee has decided to uphold the recommendation of our working party not to proceed as an equity stakeholder in a new IPL franchise.

"Having said that, we will continue to discuss other ideas with the IPL and, through their support of the MCC spirit of cricket campaign, maintain a close working relationship with them.

"The world of cricket is fast-changing and there's no doubt the IPL is going to be a central part of that world for the foreseeable future. We will remain in close contact with the IPL to develop mutually beneficial opportunities."