SLC faces financial crisis after World Cup - report
June 7, 2011 06:56 am
Sri Lanka Cricket (SLC) has sought financial help from the government and state banks. SLC treasurer Sujeewa Rajapakse told the BBC that the board has sought a grant from the two bodies.
It comes after capital expenditure on the recent World Cup put the country’s richest sports body in trouble.
Mr Rajapakse, also treasurer for the World Cup secretariat, said that unlike India and Bangladesh, Sri Lanka had to work on its venues from scratch.
New stadium
The three countries were the co-hosts of the 2011 cricket World Cup.
As a result of its hosting role the BBC understands that the SLC is facing a sizeable debt.
The initial cost for the building of the new venue in President Mahinda Rajapaksa’s hometown, Hambantota, and renovating other two venues in Colombo and Kandy was estimated at 3.5bn Sri Lanka rupees (£1.9m).
By the end of the construction, though, the cost had exceeded Rs 7 billion.
The crisis comes at a time Sri Lanka is competing with Australia to host another mega sporting event, Commonwealth Games in 2018.
Hosting fee
The SLC has already held a few rounds of discussions with the government and the sports minister on how to settle the debt crisis.
The ICC spokesman said venue construction is a matter for the host, not the ICC.
“There is a hosting fee based on the number of matches that a particular member stages. We do not discuss the details of that agreement,” the spokesman told the BBC.
There have been allegations that the widespread corruption by the senior officials involved in the construction of venues and the World Cup has been another major reason for the crisis.
The SLC has denied such allegations, BBC reports.