Rajasthan Royals allegedly is eyeing to buy the Yorkshire County Club with a massive bid of INR 260 crores.
RAJASTHAN ROYALS BUYS YORKSHIRE COUNTY CLUB
As per the reports, if the deal gets closed, then the Rajasthan Royals will have full authority over the english domestic Club, Yorkshire County Club. In addition, the Yorkshire County Club, a member-only membership, will end up after more than 160 years. Moreover, after the offer gets closed, the Yorkshire County Club will be the first county club owned by an overseas franchise.
As per some reports, the Yorkshire club is currently looking for biddings. The primary reason being its massive debt of £15 million. Moreover, as reported, many buyers in the market are looking forward to purchasing the county club. However, the county club is currently in talks with the Ipl franchise Rajasthan Royal and other Ipl franchises. In addition, a prince from Saudi, Badr bin Abdullah bin Mohammed bin Farhan Al Saud, is also looking to take over the county club.
However, the only difference in the deal between Rajasthan Royals and other players is regarding ownership. The Royals will be looking for complete ownership. whereas the other players would look to maintain the member-only membership.
Regarding the discussions around the financial contract, Rajasthan Royals is planning to issue a loan note to Yorkshire. The loan note would be later converting into equity. The discussion around the bid from the Rajasthan Royals to the Yorkshire County Club members will take place soon. As per reports, the discussions will happen in the last part of September this year.
If the deal is successful, Rajasthan Royal will be eyeing to participate in the Hundred. Yorkshire holds a noteworthy stake in the Hundred Franchise. The Hundred franchise is also known as the Northern Superchargers.
For more sports updates, follow us on Twitter.