Yorkshire Cricket Club Approves Loan Deal That Puts Former Chairman Colin Graves in Charge After Racism Scandal
Members overwhelmingly approved a special resolution to accept an emergency funding offer fronted by the 76-year-old Graves, who would return as chairman of the county team. Time is running out for Yorkshire to keep the business viable, with almost 15 million pounds ($19 million) owed to the Graves family trust and a host of other potential investors no longer at the table.
Colin Graves' controversial return as Yorkshire chairman is nearly complete after members of the cash-strapped cricket club approved his loan offer Friday. Graves last month apologized “personally and unreservedly” to those who experienced racism during his scandal-scarred period as chairman at the storied English cricket club from 2012-15. Members overwhelmingly approved a special resolution to accept an emergency funding offer fronted by the 76-year-old Graves, who would return as chairman of the county team. Australia Batsman Cameron Bancroft Joins English County Side Gloucestershire For 2024 Season.
Time is running out for Yorkshire to keep the business viable, with almost 15 million pounds ($19 million) owed to the Graves family trust and a host of other potential investors no longer at the table. Graves' offer would give Yorkshire an immediate cash injection of 1 million pounds ($1.3 million), followed by further funding worth 4 million pounds ($5 million) over five months. That is all contingent on members ratifying Graves' return to an altered board. The Financial Conduct Authority must approve the deal.
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