Colin Graves' return to Yorkshire Cricket approved by Financial Conduct Authority

Yorkshire County Cricket Club have confirmed that Colin Graves' controversial takeover has been approved.

Members voted overwhelmingly in favour of the 76-year-old's appointment as chairman at an extraordinary general earlier this month.

But his offer of a loan to the debt-ridden club had to be rubber-stamped by the Financial Conduct Authority.

Yorkshire confirmed on Thursday that the FCA had approved the move.

Graves will be officially elected as the new chair of the board at a meeting on Friday.

He said: "I will work tirelessly with the board to resolve the financial position in which the club currently finds itself, and to restore financial stability and sustainability to Yorkshire cricket for generations to come. 

"Equally, it is my personal pledge to members and to the entire Yorkshire public that, regardless of background, community or ethnicity, all will be welcome in the fully inclusive culture and environment of the Yorkshire County Cricket Club. There will never be any exceptions."

Controversy has surrounded Graves' return following the racism scandal which rocked the club.

Former bowler Azeem Rafiq caused a crisis in 2020 when he made public claims about institutional discrimination at Yorkshire.

The club was ultimately fined for failing to address the systemic use of discriminatory or racist language, during a period which partly included Graves' previous tenure between 2012 and 2015.

Rafiq said his return showed cricket "not safe" for minority ethnic players.

Graves, who acknowledged the club may be in for a "bumpy ride" said: "I have unreservedly apologised for any, and all mistakes either I or the club has made over the painful and difficult years of the recent past.

"Lessons have been learned and will continue to be acted on as we move forward."

Yorkshire chief executive Stephen Vaughan said: "I, along with the rest of the board, take our responsibility very seriously. The board are custodians of the club and we are mindful of the responsibility that comes with it.  

"We are pleased that members voted overwhelmingly in favour of the rule changes enabling Colin’s appointment to the board, and in doing so protecting the future of Yorkshire, and we look forward to him taking the club forward."