The chairman of Kent Cricket Club has rejected claims that he stands to make an inflated profit from a property deal at the St Lawrence ground in Canterbury.

George Kennedy hit back at claims in the Daily Mail that he, rather than the club, is “benefitting personally” and rumours among some members that he was given a preferential deal by the club on the site where he has built a block of five luxury flats.

Some also believe the club itself, which owes the city council £4.5 million in loans, should have stood to gain financially from any development opportunity and not him personally.

But Mr Kennedy, who has pumped more than £1 million of his own money into the club, has branded the claims “absolute nonsense”.

He also insists he “divorced himself” from decisions about the deal made by the club committee.

“The reality is that the club tried to sell the old building for redevelopment with planning permission and only had one totally unacceptable offer" - George Kennedy

He paid around £350,000 with fees for the site and the luxury flats, costing between £360,000 and £450,000, are among the priciest two-bedroomed new homes on the market in city, largely due to their unique location.

They have been built on the site of the former headquarters building at the ground.

Mr Kennedy said: “The reality is that the club tried to sell the old building for redevelopment with planning permission and only had one totally unacceptable offer.

“The club could not afford to redevelop it so I suggested buying it, but advised them to get a completely independent valuation which turned out to be much higher.

“I also had to pay a £15,000 section 106 fee to the city council after our plans were approved.

“The completion of the building was later than expected and I have yet to see a profit – and when we do, it will be nothing like that suggested. It is way off the mark.

“But all the figures were available to see in last year’s accounts and it’s worth noting that there is a clause in the city council loan agreement that it has to be paid back before me.”

Club chief executive Jamie Clifford also defended the deal, adding: “Without the chairman’s generosity, the future of this club would be in serious jeopardy.

“He has taken a risk with the flats and any profit he makes will be nowhere near the amount he has put into Kent.”

City council leader John Gilbey (Con) said the council’s loan agreement with the club was “not costing local taxpayers a penny” and was protected with the security of assets.

He said: “We believe supporting the club was the right thing to do for Canterbury but we wouldn’t have entertained a deal which put taxpayers at risk. “

He said he could not comment on the personal business of the club chairman.