Yorkshire have been cleared without charges by the Cricket Regulator following a formal investigation into a £1.75m payment the county made to a company controlled by chief executive Sanjay Patel for work connected to the sale of the Northern Superchargers Hundred franchise.
The regulator's decision to take no further action was announced by Yorkshire chair Colin Graves at a members forum in Scarborough on Thursday and subsequently confirmed in an email to supporters on Friday. The investigation had examined whether governance procedures were properly followed when the county engaged Patel's firm, SMP73 Ltd, to advise on the transaction.
The matter had attracted scrutiny after a national broadcaster first reported in June that the England and Wales Cricket Board was reviewing the consultancy arrangement, which related to the £100m sale of the Superchargers to the Sun Group in February 2025. Concerns had been raised at Lord's over the scale of the fee and the potential for a conflict of interest given Patel's executive role at the club.
In his communication to members, Graves stated:
The Cricket Regulator completed a thorough investigation and has concluded that payments were made through satisfactory governance processes and decision-making structures and there is no further action required. This matter is now closed.
How was the payment structured?
Yorkshire's 2025 accounts disclosed that SMP73 Ltd received a commission of £1.75m for what was described as "corporate broker services in relation to the sale of Northern Superchargers Limited". The payment was structured as performance-related compensation, meaning it only became due if the transaction exceeded a predetermined financial target set by the club's board.
Graves explained the rationale in his email to members, stating that the board had engaged Patel through his company because of his extensive knowledge of the Hundred format and his established network within cricket. He confirmed that the agreed commission would only be payable if the sale outcome surpassed the ambitious threshold the board had established.
That target was exceeded, securing a transformational return for Yorkshire which enabled us to clear the club's significant debt and put Yorkshire on a much stronger financial footing.
Companies House records indicated that Patel held more than 75% of SMP73 Ltd's shares and voting rights, establishing his controlling interest in the consultancy firm.
Why did the regulator investigate?
The Cricket Regulator's formal inquiry examined whether the payment and the processes surrounding it complied with ECB regulations. A source familiar with the investigation revealed that the case was dropped because there was no evidence that Yorkshire's conduct constituted a regulatory breach.
Several factors appear to have influenced the regulator's conclusion. The timing of Patel's formal appointment as chief executive in October 2025 was significant, as SMP73's consultancy work on the sale had concluded before that date. However, Patel had been heavily involved in the transaction as interim chief executive from September 2024 onwards and played a central role during the Hundred auction process in February 2025.
Additionally, Yorkshire were the only county to sell 100% of their Hundred franchise stake, whereas most other host counties retained a 51% ownership position. This decision to divest completely may have contributed to the scale of the consultancy fee.
How does this compare to other Hundred sale arrangements?
The governing body had engaged the US investment bank Raine Group to identify potential investors for all eight franchises and to manage the auction process. Raine received approximately £12m in commission for this work across the entire portfolio sale, which generated £520m for the sport through stakes ranging from 49% to 100% being sold to external investors.
The ECB is understood to remain unconvinced about the proportionality of Yorkshire's payment to Patel's company, particularly given the scale of Raine's fee for orchestrating the broader transaction. However, the regulator determined that the governance framework Yorkshire had followed was adequate and that no further action was warranted.
What is Patel's background in cricket?
Before joining Yorkshire, Patel was instrumental in designing the Hundred format while working alongside Colin Graves when Graves held the position of ECB chair. He was among a small cohort of senior executives who received combined bonuses totalling £2.1m from the ECB in 2022.
His appointment at Yorkshire followed the county's long-standing financial difficulties. The sale of the Northern Superchargers franchise was a crucial step in addressing the club's debt burden and improving its financial stability.
What happens next?
Yorkshire have indicated that the matter is now concluded. The club's members have been briefed on the regulator's decision, and no further investigation or disciplinary action is anticipated. The payment to SMP73 Ltd remains in place as a completed transaction.
Key Facts
- The Cricket Regulator found no evidence of regulatory breach in Yorkshire's engagement of Patel's company for the Superchargers sale consultancy
- The £1.75m payment was structured as performance-related commission, payable only if the sale exceeded a board-set target
- Yorkshire sold 100% of their Hundred franchise to the Sun Group for just over £100m, the only county to divest completely
- Patel held more than 75% ownership of SMP73 Ltd and was interim chief executive during the February 2025 auction before his permanent appointment in October 2025
- The ECB's appointed adviser Raine Group received approximately £12m in commission for managing the entire eight-franchise sale process
