Firstly, he isn't Sir Geoffrey and never will be. How on earth could someone be knighted after they refused to play for their country because they hadn't been made captain?
Secondly, it wasn't racist but it was astonishingly stupid so his apology was needed.
Thirdly, do you know what the racist term for white people is in Hong Kong (and possibly China)? Literally, it can be translated to 'ghost-head'.
Always found that quite amusing. Well done Chinesers.