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Indian Premier League franchise Rajasthan Royals have reportedly launched an INR 260 crore bid for Yorkshire County Cricket Club. If the offer is accepted, it would make Yorkshire the first county club to be owned by an international franchise. Not only this, but the offer would put an end to its 160-year history as an all-members club. Earlier, it was reported that the club was being considered to be sold to raise funds of around USD 18 million to pay off the debt owed to the family trust of former chairman Colin Graves.
However, as per the latest developments and reports by the Daily Mail, the Royals are considering seeking complete control over Headingly. They would provide a convertible loan to Yorkshire to pay the Graves debt, which would later be switched to equity in the future. The club hasn't confirmed the news yet.
Speaking of the equity share of the Royals, the stake would be determined by marketing size at that time. The executive members of Yorkshire are considering the offer, which will be put to the board later this month. Later, the offer would be put to the members, who would later vote in favour or against the offer.
The reports further state that the franchise has plans to bring its own executive members to the board to run the club. Notably, Rajasthan’s majority owner is London-based businessman Manoj Badale and his company Emerging Media. Franchise’s other investors are RedBird Capital and Lachlan Murdoch.
