Sussex have landed an amazing £7 million windfall from the estate of their former president, Spen Cama, £3 million more than they had expected.

Chairman David Green told the club's AGM the money would safeguard the long-term future of the county club and that the £7 million was a "conservative estimate."

Mr Cama, who died in 2001, was a staunch supporter of Sussex cricket as well as a successful businessman with extensive property interests in the City.

Green said: "We will get the proceeds from the sale of a private property company and the value depends on when it is sold. Inheritance tax will be minimal so it's a variable feast, but the amount is a conservative estimate and means our financial future is assured."

The money should become available at the end of the year and will help finance a major redevelopment of the County Ground, which got underway with the opening of the club's new indoor school last December.

Sussex also announced last night that they had agreed a two-year extension to their main sponsorship deal with Pav it.

The club's accounts revealed a £50,000 severance payment was made to Michael Bevan after the county decided to terminate his contract at the beginning of last season while cricket salaries rose to a record £1.19 million.

Jim Parks was elected the club's new president and Les Lenham has been made a vice-president.

Director of cricket Peter Moores told members Sussex had a reasonable chance of winning a trophy. He said: "In four-day cricket we can take on anyone."