According to reports on Friday, August 23, three IPL franchises – Rajasthan Royals, Sunrisers Hyderabad and Lucknow Super Giants – are in the running to takeover English county Yorkshire.
Reports emerged last September that Yorkshire were the subject of a takeover bid worth £25 million from the Rajasthan Royals (RR). The county has been hard-pressed for funds, and still has an outstanding debt of £15 million owed to the trust of chair Colin Graves.
That deal eventually collapsed, but talks were revived when Graves returned to his position earlier this year. He also stated in an open letter to the club's members that Yorkshire will be "fighting for its survival" in 2024, with private investment the need of the hour.
However, according to a report from the Telegraph, negotiations have been paused once again.
It has been reported that the IPL franchise proposed a deal to secure their stake in Yorkshire through the mode of additional borrowing, as opposed to direct investment. This would mean if the takeover went through, Yorkshire would still owe whatever amount RR borrowed.
This deal has been deemed unacceptable, as per reports, as it would effectively replace this debt with another form. At this point though, negotiations have not been confirmed as closed.
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Sunrisers Hyderabad, Lucknow Super Giants reportedly enter race for Yorkshire
Following the stalling of talks with RR, another IPL franchise the Sunrisers Hyderabad (SRH) have emerged as an alternate option to takeover the county with a bid of 50.
SRH have reportedly put in a bid of £50 million in order to gain control of the club as well as Headingley cricket ground. This valuation is twice what RR offered.
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A third franchise, Lucknow Super Giants (LSG), have also registered interest in Yorkshire although no bid has been put in yet. LSG were one of the interested parties in Hampshire earlier this year, before the county sealed a takeover deal worth £120 million with the GMR Group, part-owners of IPL franchise Delhi Capitals.
Rajasthan Royals also own stakes in Caribbean Premier League side Barbados Royals and SA20 franchise Paarl Royals. The RPSG Group which owns LSG also has stakes Durban's Super Giants in the SA20 and Indian football club Mohun Bagan. Sun Group, which owns SRH, also owns Sunrisers Eastern Cape in the SA20.
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