10 months ago
Yorkshire person agreed to waste Headingley to Mike Ashley for £23million pinch nan ex-Newcastle United proprietor adjacent to securing a 10-year naming authorities woody for nan stadium.
Mail Sport revealed successful September that Yorkshire were considering trading nan iconic crushed to clear debts that were threatening to nonstop them into administration.
Now Ashley is group to spot disconnected liking from nan Rajasthan Royals and erstwhile president Colin Graves to complete a waste and lease-back woody which will safeguard nan club’s future.
Yorkshire are believed to person negotiated an action to bargain backmost nan crushed that has been their location since 1891 astatine a fixed value arsenic portion of nan sale.
The nine will proceed to play astatine Headingley arsenic tenants of Ashley’s Frasers Group, who will complaint Yorkshire astir £1m a play successful rent.
Yorkshire person agreed to waste Headingley to ex-Newcastle proprietor Mike Ashley for £23million
Yorkshire will proceed to play astatine Headingley arsenic tenants, playing £1m a play successful rent
The historical woody is understood to see naming authorities for Headingley, which Ashley will usage to advertise 1 of Frasers’ brands, which see Sports Direct, Slazenger and Jack Wills. Headingley will stay portion of nan stadium’s sanction successful a woody akin to Surrey’s for nan Kia Oval and Lancashire’s for Emirates Old Trafford.
Yorkshire will usage nan £23m to salary disconnected their £15.9m indebtedness to nan Colin Graves Trust, who agreed to defer a £500,000 instalment owed past month, and will dream to rebuild aft finishing second-bottom of nan Championship’s 2nd section this year.
The 160-year-old nine person been successful turmoil since being accused of organization racism by Azeem Rafiq 2 years ago, a furore which costs them astir £3.5m successful ineligible costs and compensation payments, pinch past year’s accounts showing losses of £2.2m.
Yorkshire rejected respective offers to bargain nan nine outright to prosecute nan woody pinch Ashley because they were wished to stay successful nan power of their members.
The woody whitethorn still beryllium controversial, however, pinch Yorkshire icon Geoffrey Boycott outlining his beardown guidance past month.
‘Everybody successful Newcastle hates (Ashley),’ said nan erstwhile England batsman, 83. ‘That doesn’t sound bully for Yorkshire cricket. I don’t want to beryllium leasing backmost Headingley, why nan hellhole do I? If you effort to waste and lease back, I’m telling you location will beryllium trouble.’
The iconic crushed hosted nan 3rd Ashes Test betwixt England and Australia this summer
Yorkshire will clasp power of nan Headingley shop and different unit and commercialized elements, pinch Frasers constricted to stadium naming rights.
The projected woody has yet to beryllium signed disconnected by nan ECB, but they are improbable to object.
Ashley already owns nan Coventry Building Society Arena, location to Coventry City, and is exploring buying League One nine Reading, which could hold nan completion of nan Yorkshire deal. But some parties are hopeful it tin beryllium finalised later this month.
Yorkshire declined to comment.
