In a surprising development in cricket, the Rajasthan Royals, a prominent franchise in the Indian Premier League (IPL), have initiated a takeover bid for Yorkshire County Cricket Club, an English County side with a rich history in the sport. If successful, this takeover bid could make Yorkshire the first County Club owned by a foreign franchise. The Royals have reportedly offered around £25 million, which would grant them full control of the historic Headingley ground, marking the end of the club’s 160-year history as a members’ club.
Yorkshire County Cricket Club finds itself in a financial predicament, with debts totaling up to £15 million owed to the trust of former Chairman Colin Graves. To address this financial burden, the Royals have proposed providing a convertible loan note to Yorkshire, effectively clearing the debts to Graves. This loan would later be converted into equity at a future date, providing a lifeline to the club.
Interestingly, reports also suggest that former Newcastle United owner Mike Ashley is considered a potential buyer for Headingley. Ashley, who previously owned the Premier League football club, sold it to the Saudi Arabian Public Investment Fund (PIF).
The move by the Rajasthan Royals reflects a broader trend in English cricket, with an increasing interest in raising funds from overseas investors. This interest extends to franchises in tournaments like The Hundred, where Yorkshire County Cricket Club is a majority stakeholder in the Northern Superchargers. The Royals have invested in various cricket franchises worldwide, including the Barbados Royals in the Caribbean Premier League and the Paarl Royals in SA20.
The Rajasthan Royals franchise is primarily owned by London businessman Manoj Badale and his company Emerging Media, who hold the majority stake. Additionally, RedBird Capital, along with Lachlan Murdoch, are investors in the franchise. The potential ownership of Yorkshire would give the Royals control over the iconic venue, Headingley. It could also serve as a strategic move to acquire a Hundred franchise at a reduced cost.
In a separate cricketing development, star spinner Yuzvendra Chahal, who currently plays for the Rajasthan Royals in the IPL, is reportedly set to join Kent in the English county season. This move comes as Chahal seeks game-time opportunities after being omitted from India’s World Cup squad.
PCB Seeks Compensation From Jay Shah-Led ACC, Check Full Report
Yorkshire County Cricket Club has not issued an official statement regarding the takeover bid, and they have declined to comment on the matter. The club is focused on their upcoming county matches against Glamorgan, Leicestershire, and Worcestershire, which will conclude their county season. The cricketing world awaits further developments in this intriguing and potentially transformative acquisition bid by the Rajasthan Royals.
