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Former Newcastle owner Mike Ashley 'set to make a shock bail-out offer to rescue cash-strapped Yorkshire and clear £16m debts', although he faces competition from India and Saudi Arabia and does not plan to buy club

Mike Ashley is set to make an offer next week to clear stricken Yorkshire County Cricket Club's £16million debts.

The former Newcastle United owner does not plan to buy the club but is prepared to make a substantial cash injection, The Telegraph reported last night.

Ashley is expected to outline his plans shortly. Financial backers with ties to Indian Premier League outfit Delhi Capitals and intermediaries representing Saudi Arabia's Public Investment Fund are also interested in Yorkshire.

Should Ashley's bid prove successful, Yorkshire may give him a seat on the board.