Rajasthan Royals bid Rs 260 crore (£25 million) to buy Yorkshire Cricket Club

Rajasthan Royals have made a crores of rupees bid for Yorkshire. If Rajasthan Royals is successful in purchasing this club, it will become the second foreign franchise to own a county club. The IPL organization has offered Yorkshire around £25 million. This unlike other investment offers the club has received – would give the Royals full control of Headingley. Ending their 160 years as a member club. Talking in Indian currency, Rajasthan Royals have made a bid of Rs 259 crore.

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Yorkshire first county with a majority foreign ownership

Mail Sport reported last week that Yorkshire was considering selling Headingley to former Newcastle boss Mike Ashley in a bid to raise funds to pay off former chairman Colin Graves’ family trust’s £ 15 million settlement.

He also talked about taking loans from other IPL franchises and Saudi Arabia’s Prince Badr bin Abdullah bin Mohammed bin Farhan Al Saud.

Yorkshire will provide with a convertible loan, which will be converted into equity at a future date

While these proposals would ensure that Yorkshire remains in the hands of its members, Rajasthan is aiming for full control. They will provide a convertible loan to Yorkshire to pay off Graves’ debt, which will be converted into equity at a future date. Rajasthan Royals have made a takeover bid for Yorkshire County Cricket Club.

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The exact size of Rajasthan’s equity stake will be determined by market conditions at the time of conversion

If Rajasthan Royals are successful in taking over, they will have complete control over Headingley. The exact size of Rajasthan’s equity stake will be determined by market conditions at the time of the conversion, but it is believed they want a majority stake.

The Yorkshire management team is considering the proposal, which will be presented to the board later this month. They will then present the proposal to the members, who will vote to accept the proposal.

Sources told Mail Sport that Rajasthan plans to bring in their own executives to run the club. Which would impress Director of Cricket Darren Gough and coach Ottis Gibson.