Cash strapped Sri Lanka Cricket sinks deeper into debt: report

June 15, 2008 (LBO) – Sri Lanka Cricket, the island’s richest sporting body, is currently surviving on a 7.5 million dollar overdraft, a media report said.

The triangular series had been due to take place in August 2006 between the hosts, South Africa and India. India stayed to play Sri Lanka, but rain disrupted the matches.

The tri-nation series was the only revenue earmarked for 2006, Sri Lanka Cricket secretary Kangadaran Mathivanan said earlier this year.

Mathivanan said an out-of-court settlement with a television company cost the cashless cricket board another five million dollars.

It was in addition to unbudgeted expenditure of 225 million rupees to develop the new stadium at Pallekele in the central district of Kandy and 500 million rupees to refurbish the Galle stadium devastated by the 2004 tsunami.

“The total shortfall in revenue and additional expenditure totalled 2.3 billion rupees (21.4 million dollars),” Mathivanan said.

Most of the money that the Sri Lanka Cricket earns these days is through sale of television rights to home internationals.

Ranatunga said India’s Test and one-day