Graves, who beforehand chaired the membership from 2012 to 2015, warned members that the implications of failing to approve his provide to refinance the membership can be “far-reaching” and will embody administration or insolvency. He required the assist of two-thirds of the members current, and acquired 88.3% of the legitimate votes solid.
The membership mentioned in a press release: “The Yorkshire County Cricket Membership Restricted (YCCC) is happy to announce that the particular decision voted on at the Extraordinary Normal Assembly (EGM) held within the Lengthy Room at Headingley, on Friday, 2 February, 2024 was handed.
“One particular decision was voted on in the course of the assembly, with the decision handed by members. The results of the vote for the particular decision to make various adjustments to the foundations of the Membership required in relation to a refinancing proposal from Colin Graves as set out within the discover of the was introduced, with members voting in favour of the rule adjustments.”
In complete, 746 members voted for the decision, whereas 99 voted towards and 48 invalid or spoiled votes had been discounted.
Graves will probably be joined on the Yorkshire board by three different members of the consortium whose provide of emergency funding to the membership was voted by way of: Phillip Hodson, the Yorkshire-born former President of MCC; Sanjeev Gandhi, a former non-executive director of the Hundred, and Sanjay Patel, the long-term ECB govt who left his position as managing director of the Hundred final summer time.
Beneath the phrases of the deal, Yorkshire will obtain a right away injection of £1 million, adopted by additional funding value £4 million. Graves’ unique involvement with the membership happened in comparable monetary circumstances in 2002, when because the founding father of the Costcutter grocery store chain, his bailout saved them from chapter.
His household belief, which is managed by impartial trustees, continues to be owed almost £15 million by the membership.
Graves has been invited to present proof to the Tradition, Media and Sport Committee subsequent month, with chair Dame Caroline Dinenage MP saying final month that his return “dangers undermining what progress has been made to date”.
