EXCLUSIVE: Yorkshire avoid threat of administration as club negotiate extension of \u00a3500,000 payment owed to Colin Graves Trust<\/h1>\n

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• The cash-strapped club were struggling to make the repay the loan<\/strong><\/li>\n
• Yorkshire recorded losses of \u00a32.2m last year but have bought themselves time<\/strong><\/li>\n
• The Rajasthan Royals have offered \u00a325m to take control of the club outright<\/strong><\/li>\n<\/ul>\n

  Yorkshire have avoided the threat of administration by negotiating to defer a \u00a3500,000 payment to the Colin Graves Trust that was due next month.\u00a0<\/p>\n

  As previously reported by Mail Sport the cash-strapped club were struggling to make the repay the loan after recording losses of \u00a32.2million last year.<\/p>\n

  Yorkshire\u2019s players have been openly discussing fears they may not be paid next month due to the looming repayment, part of a \u00a315million loan provided by the family trust of the county\u2019s former chairman.\u00a0<\/p>\n

  The club\u2019s executive team are understood to have negotiated an extension however and it is not now due until the next financial year begins in April 2024.<\/p>\n

  <\/p>\n

  Yorkshire have avoided the threat of administration by negotiating to defer a due payment<\/p>\n

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  The cash-strapped club were struggling to make the repay the loan after losses of \u00a32.2m<\/p>\n

  Yorkshire\u2019s extension will give them more time to agree a debt refinancing package which will enable them to repay the \u00a315m loan in full and safeguard the club\u2019s future.<\/p>\n

  As Mail Sport revealed last week the Rajasthan Royals have offered \u00a325m to take control of the club outright, while former Newcastle owner Mike Ashley is seeking to buy Headingley and lease it back to Yorkshire in return for branding rights at the stadium.<\/p>\n

  Yorkshire declined to comment.<\/p>\n

  Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  EXCLUSIVE: Yorkshire avoid threat of administration as club negotiate extension of \u00a3500,000 payment owed to Colin Graves Trust The cash-strapped club were struggling to make the repay the loan Yorkshire recorded losses of \u00a32.2m last year but have bought themselves time The Rajasthan Royals have offered \u00a325m to take control of the club outright Yorkshire […]<\/p>\n","protected":false},"author":2,"featured_media":289773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\n