One of the ways in which Yorkshire will pay the price for their botched handling of the investigation of racism suffered by Azeem Rafiq is the financial consequence of missing out on hosting England fixtures.

The club faces eight-figure losses after they county were suspended from hosting international matches and other major games by the England Cricket Board.

It is the most significant potential financial hit the county has suffered so far in the crisis, after sponsors deserted the club in droves over the course of Wednesday and Thursday.

Yorkshire’s 2019 accounts showed it had earned just under £10.5million from international ticket and hospitality revenue, compared to just over £3m from commercial income which would include sponsorship.

England won’t be playing at Headingley any time soon after the England Cricket Board took the decision to ban Yorkshire from hosting national team fixtures in the wake of the handling of the Azeem Rafiq case.

In a statement released on Thursday evening, the ECB chastised Yorkshire for causing “serious damage to the reputation of the game” and will take matters into their own hands given how poorly they have dealt with serious accusations of institutional racism.

The suspension on hosting means Headingley could be without a Test match against New Zealand and one-day international against South Africa in 2022, followed by an Ashes Test in 2023. It also relates to domestic fixtures allocated through the Host Venue Panel, such as The Hundred eliminator and final.

Rana Naved-ul-Hasan has told ESPN Cricinfo that he heard the racially insensitive comment ex-England captain Michael Vaughan is alleged to have made to a group of Asian players in the Yorkshire racism investigation report.

Rana is a Pakistani former fast bowler who was with Yorkshire between 2008-09, and was the club’s designated oversees player at the time.

The 43-year-old insists that Vaughan did indeed say “There’s too many of you lot, we need to do something about it,” in front of a group of four Asian players, and reaffirmed that he is prepared to give evidence to any inquiry as required.

The former England captain Michael Vaughan has denied claims that he made racist comments in tje presence of Azeem Rafiq and other Asian Yorkshire players when he played for the club.

The 47-year-old used his column in the Daily Telegraph to declare that he had “nothing to hide”, writing: “The night before I was due to give evidence, out of the blue, I was hit with the news that Rafiq was alleging that in 2009, when I was still a player and before a Yorkshire match against Nottinghamshire, I had said to Rafiq and two other Asian players as we walked onto the field together that there are ‘too many of you lot, we need to do something about it’.

“This hit me very hard. It was like being struck over the head with a brick. I have been involved in cricket for 30 years and never once been accused of any remotely similar incident or disciplinary offence as a player or commentator.

“I have nothing to hide. The ‘you lot’ comment never happened. Anyone trying to recollect words said 10 years ago will be fallible, but I am adamant those words were not used.”

Azeem Rafiq says he is still receiving abuse and criticism for speaking out about the racism he suffered at Yorkshire.

The 30-year-old will appear before MPs on the Digital, Culture, Media and Sport committee later this month and tweeted on Thursday: “We wonder why people don’t come forward. Even after everything that is out there, there seems to be personal attacks coming. What a sad state of affairs.”

“This is about institutional racism and abject failures to act by numerous leaders at Yorkshire County Cricket Club and in the wider game. The sport I love and my club desperately need reform and cultural change.”

England coach Paul Collingwood believes the botched Yorkshire investigation and fallout is an “education” to everybody in wider cricket, but says the England team is a welcoming environment for players.

“We’ve seen it in the news, keeping a close eye on it, so when something as big as this is in the news you have a chat about it,” he told a press conference during T20 World Cup campaign in the United Arab Emirates. “It’s an education for all of us, keep trying to learn, understand and get better.

“We’ve really worked hard over the last few years with the courage, respect and unity that we have in the dressing room and that’s a motto that we live by in the dressing room.

“I know this group of players, it’s very important to them that it’s an environment where people feel safe. We’ve got a very diverse group of players and I know everybody feels really welcome in that dressing room.”

The ex-England captain Nasser Hussain has criticised Yorkshire for not having “the guts” to do the right years ago in relation to the Azeem Rafiq case.

“They messed it up first time when it actually happened because no one had the guts to stand up and say: ‘No, we are not doing that in this dressing room,’” he told Sky Sports.

“They next messed it up for years after that by not picking out people who used that terminology and they are still messing it up now when they had the option to say: ‘We have changed, we will not accept this sort of behaviour’. So they continue to mess it up.”

Hussain went on to say he feared the consequences for young players coming up through the system at cricket clubs.

“Almost by Yorkshire saying it is just banter, they are sending a message through all their age groups that it is okay to say ‘you lot’ and ‘that corner shop must belong to your uncle’ and things like that. They are sending a message that this sort of mickey taking is absolutely fine and it’s not.”

The chair of the Digital, Music, Culture and Sport committee has accused Yorkshire County Cricket Club of “victim blaming” in the report based on the findings of their internal investigation in strong criticism of both the club’s practices and handling of the case.

Julian Knight MP branded the club’s response “absolutely appalling” on the Today programme, adding: “There is a degree of victim blaming in the leaked report, where they equate Rafiq using ‘Zim’ for Zimbabwean as the same as the P-word. It is not the same.

We want to get the lead people at Yorkshire County Cricket Club in front of us and we want to ask them how they can justify not having taken action and why it is they think that those who have used this language in their club are fit to still remain in their club, and what are they going to do in the future in order to ensure that Yorkshire gets a handle on this racism problem.”

Sportswear giant Nike has also cut ties with Yorkshire in the past 24 hours over its handling of the Azeem Rafiq racism case.

The American company had been the club’s kit manufacturer since March of this year after signing a deal which was due to run until 2025, but will now be ended immediately.

“Nike will no longer be the kit supplier for Yorkshire CCC,” read a statement released by the sports clothing brand on Thursday, per the Evening Standard.

“We stand firmly against racism and discrimination of any kind.”

A variety of club sponsors have cut ties with Yorkshire in the past few days, including Yorkshire Tea and Emerald Publishing.

The latter’s logo is a significant presence at the club’s Headingley Stadium, and the company said they will remove all branding from the club while calling on Yorkshire to “respond with serious action to eradicate racism”.

“We do not tolerate any form of racism or discriminatory behaviour and the damaging effects this has,” Emerald said. “Our intention remains to continue a financial commitment to the stadium itself, which is also the home of Leeds Rhinos rugby, as we believe this supports the aims of diversity and inclusion in sport along with a range of charitable community endeavours. Emerald will however no longer sponsor Yorkshire County Cricket Club.