- The cash-strapped cricket club were struggling to repay the loan
- Yorkshire recorded losses of £2.2m last year but have bought themselves time
- The Rajasthan Royals have offered £25m to take control of the club outright
Yorkshire have avoided the threat of administration by negotiating to defer a £500,000 payment to the Colin Graves Trust that was due next month.
As previously reported by Mail Sport the cash-strapped club were struggling to repay the loan after recording losses of £2.2million last year.
Yorkshire’s players have been openly discussing fears they may not be paid next month due to the looming repayment, part of a £15million loan provided by the family trust of the county’s former chairman.
The club’s 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.
Yorkshire’s extension will give them more time to agree a debt refinancing package which will enable them to repay the £15m loan in full and safeguard the club’s future.
Yorkshire have avoided the threat of administration by negotiating to defer a due payment
The cash-strapped club were struggling to repay the loan after losses of £2.2m
As Mail Sport revealed last week the Rajasthan Royals have offered £25m 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.
Yorkshire declined to comment.