Sri Lanka cricket June 27, 2008

India tour helps SLC clear debts

India's upcoming tour of Sri Lanka in July and August has enabled Sri Lanka Cricket (SLC) to get out of its present financial crisis.

SLC had an overdraft of US$ 6,038,647 (650 million Sri Lankan rupees) with its banks last month, but with Ten Sports, the official television broadcaster of SLC paying 50% of the full amount of US$ 15.2 million for India's tour, SLC made an announcement today that they were been able to overcome their financial liabilities.

The SLC media release stated: "Sri Lanka Cricket is pleased to inform the public that all financial liabilities with banks including, pending overdrafts over 600 million has been settled on June 20, 2008 with payments received from the sale of TV rights for the upcoming India tour of Sri Lanka 2008."

SLC interim committee chairman Arjuna Ranatunga had said on assuming office in January that SLC were totally dependent on India's tour to clear the massive financial debts his committee faced. Apart from the revenue projected by way of India's tour, SLC stand to gain US$ 218,101 from a series of three ODIs against touring Zimbabwe.

India are due to make a full tour of Sri Lanka starting next month playing three Tests and five one-day internationals after the completion of the ongoing Asia Cup in Pakistan.