Yorkshire are reportedly at risk of going into administration, with the club set to reveal a financial cost of around £3million from the Azeem Rafiq racism scandal.
The ECB's disciplinary hearing into Rafiq's allegations has begun and the Daily Mail report that Yorkshire could be hit with a 'heavy fine' after pleading guilty to four charges, although their 'dire financial position may lead to them receiving more lenient treatment from the ECB'.
Yorkshire have already forked out millions in compensation, having lost an employment tribunal with six former staff members and settled one with Rafiq. The report states that the club 'agreed a £200,000 financial settlement for Rafiq' and have paid out almost £2m in compensation after the tribunal found the former staff members' claims of unfair dismissal to be "well founded".
Yorkshire are also said to have incurred 'several hundred thousand pounds' worth of legal fees and remain locked in a legal battle with former physio Wayne Morton, who is demanding £566,000 in compensation.
New director of cricket Darren Gough is also said to be earning a 'far higher salary' than predecessor Martyn Moxon, while the club also forked out around £400,000 in order to provide free kit and coaching to children who are involved in Yorkshire's junior programmes.
The club still owes almost £15m to the Colin Graves Trust, with a £3m repayment due to be paid later this year, and Yorkshire's latest accounts admitted there was "material uncertainty" surrounding the debt.
As a result, Graves, a former Yorkshire and ECB chair, could be set to return to the club after Lord Patel announced he would be standing down and confirmed his interest in an interview with the Yorkshire Post.
"I know I can sort out the financial position going forward and I can get Yorkshire back on an even keel," Graves said. We'll put the club back together from a members' point of view and from a players' point of view and everybody else.
"We'll move on from everything that's happened and get to where we need to be as a county cricket club. It's up to the club.
"I know I can bring to the table what Yorkshire want at this point in time, which is healing all the wounds, getting the members back on side to being a members' club, working with the board to get them in the right position going forward and to sort out the financial situation that they're looking at."
A Yorkshire spokesperson told the Cricketer: "A key element of the position of chair will relate to an ability to lead a refinance process. To clarify questions around monies owed to the Graves Trust. The full amount of £14.9m is owed in October 2024. However we will need additional monies in 2023 for BAU [business as usual] expenditure.
"We are determined and committed to the long-term success of the club, and to build on the work we have done collectively to address the many challenges we have faced together to make Yorkshire County Cricket Club a thriving and welcoming place for all. We will make any announcements in regard to the appointment of the chair in due course once the process has been completed."
