Cricket

Yorkshire County Cricket Club has appointed Mitesh Velani as its new Chief Financial and Operations Officer, effective September 16. Velani joins Yorkshire from Saracens, where he held various leadership roles, including Finance Director and Chief Executive.Velani's appointment comes amidst significant changes at Yorkshire, both on and off the field. The club is currently searching for a new Director of Cricket and Head Coach, and is also considering demutualization, which would require a 75% vote from members.Velani's experience at Saracens, which was fined and docked points for breaching the English Premiership's salary cap, has been noted by Yorkshire. However, the club has emphasized Velani's contributions to Saracens' success, including "transformation and innovation" during a decade of sustained success.Velani expressed his excitement about joining Yorkshire, stating his intention to "use everything I have learned to help support Yorkshire at this exciting time." He aims to "deliver success at Headingley and produce exceptional results, underpinned by robust commercial foundations."Yorkshire also announced the appointment of Sanjay Patel as Interim Chief Executive, effective next month. Patel, who was instrumental in the creation of The Hundred, will join Yorkshire's board, which has been led by Colin Graves since February.Graves has been vocal about the need for demutualization, citing financial concerns and the interest of potential investors. He has stated that "Yorkshire's going to fall into these financial problems time and time again" if members do not vote in favor of demutualization.Yorkshire's recent appointments signal a period of transition and ambition for the club. Velani and Patel bring a wealth of experience and expertise, and their contributions will be crucial as Yorkshire navigates its current challenges and strives for future success.

Yorkshire County Cricket Club's financial woes have reached a critical juncture, prompting chairman Colin Graves to propose a radical solution: demutualization. This move would convert the club from a member-owned structure to a private entity, opening the door to outside investment.Graves, who previously rescued Yorkshire from bankruptcy in 2002, has warned that the club faces "fighting for its survival" in 2024 without immediate action. The club's latest financial results reveal a trading loss of £2.7 million in 2023, with exceptional expenses related to the racism scandal contributing significantly.Despite hosting a lucrative Ashes Test in 2023, Yorkshire's accumulated losses now exceed £9 million. The situation is exacerbated by the lack of scheduled men's Tests at Headingley in 2024, 2027, and 2028, which Graves has termed "double fallow" years.Graves initially ruled out demutualization but has since acknowledged its necessity. The club's current status as a mutual society has hindered its ability to attract private financing. Demutualization would unlock this potential, allowing Yorkshire to invest in its future and become self-sustaining.The process of demutualization requires the approval of at least 50% of Yorkshire's 6,000 voting members, with a 75% majority required for implementation. Graves has emphasized that members' rights will be protected and that the club's interaction with them will remain unchanged.The move towards demutualization has been seen in other English cricket counties, including Hampshire, Northamptonshire, and Durham. It aligns with the ECB's discussions on the future of the Hundred, where Headingley is the host venue for Northern Superchargers.