Demutualisation “top of the agenda” for Yorkshire CCC - Colin Graves
COLIN GRAVES believes that changing Yorkshire’s status as a members’ club remains essential to safeguarding its future despite the money that has come in via The Hundred.
The Yorkshire chair said that demutualisation - which would see the club convert to a private company owned by shareholders - would protect it “for the next 50-100 years”.
Yorkshire have banked around £58m from the sale of The Hundred, including their full stake in the Headingley-based franchise Northern Superchargers.
Graves reiterated that the windfall would not be wasted and said the club could ill-afford to rest on its laurels having twice come close to going out of business since the turn of the century.
“Demutualisation has never been off the table and I personally believe we need to do it, even though we’re now financially solvent as a club,” said Graves, who led a discussion on the subject at a Yorkshire board meeting on Friday.
“I think demutualisation will make this club even stronger because, at the end of the day, what we have proven is that this club is investable, and if we get more investment into this club, it can only make this club stronger from a playing point of view, from a facilities point of view, from an outgrounds point of view. We need investment in this club, even though we've got money in the bank today.
“So, demutualisation, I can tell you now is going to be top of my agenda for 2026.
"It's important, and as I've said all the way down the line about demutualisation, the members will have nothing whatsoever taken away from them - nothing. They will have shares in it and will basically be shareholders in the club.
“This is the way that I want to take this club before I put my feet up and ride off into the sunset.
"I want to make sure that this club never, ever, ever gets in the position it's been in twice in the last 25 years and, by demutualisation, we will protect this club for the next 50-100 years if we do it properly.”
Any move to change ownership status, which has simmered in the background now for the past 18 months, and would unlock the door to private investment, needs a certain level of members’ support.
Seventy-five per cent would have to vote in favour, with at least 50 per cent of the voting membership taking part.
Yorkshire recently introduced a system whereby adults can now opt-in to receive free voting rights as part of their membership.
The club believes this will more accurately reflect the views of those who care most deeply about its future.
On the importance of protecting The Hundred money, Graves added: “That money has been virtually put into an investment company as a subsidiary of Yorkshire County Cricket Club, and there's only certain ways and means that money can be used or will be used going forward.
“We are not going to waste it and fritter it and throw it down the drain. We've got to protect that money and make sure it works for us.
“For the first time ever we're going to have no interest on our P&L (profit and loss) next year.
"That's going to save us one-and-a-half million pounds a year just on pure interest, but we've got to spend the money wisely.
"We've got to look at the Headingley stadium and see what needs doing to it as well.
“One of my ambitions before I go is to try and get the stadium up to 25,000.
"If we want to compete with Edgbaston, Old Trafford, etc, on match allocations, that's where we've got to get to.
"And, again, that's not going to happen overnight.”
Yorkshire have already held members’ roadshows on demutualisation and Graves said: “We’ll continue to talk to the members.
"We’ve had discussions with them already. When it comes to it, we’re going to ask them to vote for the right reasons and everything will be laid out properly and everything explained.”