Yorkshire chair Colin Graves has stated he was “staggered” by the charge within the sale of Headingley-based Hundred franchise Northern Superchargers.
Final month the Solar Group, house owners of Indian Premier League facet Sunrisers Hyderabad, agreed a deal to pay just over £100m for a 100% stake.
Graves stated the county, which is in over £20m of debt, will obtain “someplace within the area of £50m” when the deal is accomplished later this month.
Of the eight Hundred sides, the Superchargers are the sixth to safe funding however the one one to promote up totally.
“The traders have paid a hell of some huge cash for the groups they’re shopping for into,” Graves informed BBC Look North.
“It is staggering the quantity, I knew it was helpful however not that helpful.
“That’s nice for cricket as a result of 20% of that cash goes into the leisure sport, so that’s going to assist the grassroots.”
He added: “We might have the funds for to clear the money owed, that will be precedence primary. Quantity two, we’re taking a look at how we shield the remainder of the cash and have a look at learn how to make investments it for the nice of the membership.
“We’re in place now and I wish to ensure Yorkshire by no means will get into that place once more.”
The six gross sales of Hundred franchises has totalled round £466m, the vast majority of which can be break up among the many 18 first-class counties, Marylebone Cricket Membership (MCC) and the leisure sport.
Graves was chairman of the England and Wales Cricket Board when The Hundred format was invented.
He says that the current investments present that the ECB have been proper to pursue a brand new method.
“Lots of people have been anti The Hundred after we launched it. It took us two and a half years to persuade the county stakeholders to permit us to do it,” he stated.
“I bear in mind going to a DCMS [Digital, Culture, Media and Sport committee] assembly and getting grilled about why we have been doing it and it was going to kill cricket… The place we’re right this moment I believe it is confirmed it was the correct factor.”
