'We had nothing' - Colin Graves reveals The Hundred saved Yorkshire from going bust

The £105m merchantability of the Northern Superchargers whitethorn person saved region cricket nine Yorkshire from going bankrupt arsenic Colin Graves makes a stunning revelation

Former England and Wales Cricket Board (ECB) president Colin Graves has revealed Yorkshire County Cricket Club were conscionable 2 weeks from going bust erstwhile helium returned to the committee past year.

Graves faced stern absorption from counties and fans up of The Hundred ’s inaugural play successful 2021. The one-of-a-kind 100-ball tourney was a large talking constituent past due to the fact that of its structure, which swayed distant from the accepted T20 format.

The 77-year-old, who is presently the president of Yorkshire, called retired his critics and doubters, particularly aft the caller multi-million-pound income of a fig of The Hundred franchises, including the Northern Superchargers. He claims that the currency influx has saved clubs from going bankrupt successful the English home circuit.

According to the erstwhile ECB chairman, The Hundred was created arsenic a imaginable plus for English cricket to wage disconnected the debts accrued by counties done aboriginal income of the teams. Graves claims that Yorkshire was 1 of the region teams which would person different been near penniless.

Speaking to The Telegraph, Graves recalls being accused of 'killing English cricket' with the instauration of the 100-ball tournament. On the contrary, helium believes that The Hundred has saved it.

“It would beryllium the worst happening we could person done for English cricket. It would not work, we could ne'er bash it," helium said. "I retrieve getting quizzed by a authorities prime committee. ‘Why are you launching?’ They gave america a hard time. I said - ‘we’re doing the close happening for English cricket’ and I deliberation we proved them each wrong.

“Without this, what would person happened? County cricket was successful a dire fiscal situation. It has saved the operation of English cricket due to the fact that going forward, determination would person been immoderate large achromatic holes to autumn down and Yorkshire were facing 1 of them.”

Graves besides revealed that Yorkshire County were connected the verge of collapsing erstwhile helium took implicit for a 2nd clip past year. So overmuch truthful that they were considering striking a woody with former Newcastle United owner Mike Ashley to merchantability their location stadium, Headingley, successful instrumentality for helping them wide a £25million of debt.

The deal, however, collapsed, which forced Graves and his associates to acceptable up an exigency currency money from the Colin Graves Trust and via slope loans. As a result, they were near hopeless for a currency influx to the nine and turned each their hopes for the occurrence of The Hundred, which they believed could perchance prevention Yorkshire County’s finances.

“We were 2 weeks from going bust erstwhile I came back," Graves continued. "We had naff all, nothing. The cupboard was bare and we owed £7.5 million. We owed £1.2 cardinal to the Inland Revenue. It was an implicit catastrophe.

“In 12 months the representation has changed beyond designation and 1 of the things I privation to bash earlier I permission is marque definite it cannot get successful that concern again.”

This week, India’s Sun Group, who besides ain IPL squad Sunrisers Hyderabad, acquired a 100% involvement successful the Northern Superchargers for astir £105million, gaining a 100% ownership of the franchise. Yorkshire County, who sold their 51% involvement successful the Superchargers, is estimated to gain astir £55million from the sale.

“If idiosyncratic had said six months agone we would get implicit £100 cardinal for the Northern Superchargers I wouldn’t person believed it," Graves added. "It has secured the club’s future. We volition wage disconnected each the indebtedness consecutive away. Then we volition put successful the future.

"Don’t discarded it, that is the main thing. Do not fto the nine get successful a messiness financially again. We volition beryllium capable to usage the involvement to assistance money the nine going guardant but we’re not going to spell astir splashing retired money."

The nine had been struggling with an yearly involvement measure of £2million connected its debts. Unlike critics specified arsenic Mark Butcher, who was sceptical of the ulterior motives of ample standard Indian investments successful English cricket, Graves was much than blessed to merchantability astatine the peak.

“From our constituent of view, the valuation level present is precise high," helium concluded. "So to me, we take that money.

“What’s the constituent of being a number capitalist with idiosyncratic other being a bulk investor? Let them tally it. Let them bash what they privation to bash with the Hundred team. If they marque a batch of wealth connected the backmost of it, bully luck to them, good done. We’ll enactment with them arsenic portion of the concern statement but we person capable to bash moving Yorkshire cricket.”