Sri Lanka Cricket faces finance crisis after World Cup

[1983-2011]

Sri Lanka Cricket (SLC) has sought financial help from the government and state banks.

SLC treasurer Sujeewa Rajapakse told the BBC Sinhala service 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. In a recent report, Sri Lanka's Daily Mirror newspaper said the treasury had agreed to grant a Rs 325 million loan to the SLC, but the BBC understands the sum could exceed this by a large amount. The newspaper also said that the country's richest sports body is even struggling to pay workers' salaries as a result of the debt crisis. This is despite the board receiving income from ticket sales and a share of the television rights. 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.

http://www.bbc.co.uk/news/business-13666155

[Cricket Tragic]

Not surprising. We heard about this during the WC as well.

[jairamesh]

What happened to all that boasting by Lankan nationalist politicians getting China to build them stuff. Wasn't the Hambantota Stadium built by Chinese in the middle of nowhere for free?!! Shameful to borrow to fund such a vanity project for one man. Hambantota was a disaster, the President Mahinda RajarαῬist's frivalous pet project for his hometown. A stadium with capacity of 35,000 in a village with a population of 10,000!:headshake: effing joke!! The vanity of some these politicians has no bounds. Sympathize with the unpaid workers. No wonder Sanga had to give up captaincy with these sort of governance interference.

[yoda]

I think Lady Jaya can himself take care some of their expenses with his IPL contract. :winky:

[Indiawin]

But according to Rana"Whine"tunga, it's BCCI and India's fault. :hysterical: