LEEDS, England (AP) — Colin Graves’ controversial return as Yorkshire chairman is nearly complete after members of the cash-strapped cricket club approved his loan offer Friday.
Graves last month apologized “ personally and unreservedly ” to those who experienced racism during his scandal-scarred period as chairman at the storied English cricket club from 2012-15.
Members overwhelmingly approved a special resolution to accept an emergency funding offer fronted by the 76-year-old Graves, who would return as chairman of the county team.
Time is running out for Yorkshire to keep the business viable, with almost 15 million pounds ($19 million) owed to the Graves family trust and a host of other potential investors no longer at the table.
Graves’ offer would give Yorkshire an immediate cash injection of 1 million pounds ($1.3 million), followed by further funding worth 4 million pounds ($5 million) over five months. That is all contingent on members ratifying Graves’ return to an altered board.
The Financial Conduct Authority must approve the deal.
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