Seven vie to own a Sri Lanka Cricket premier league franchise

June 25, 2012 (LBO) – Sri Lanka Cricket has received seven bids, each worth around 4.3 million dollars, to manage a franchise for the country’s first Twenty20 premier league tournament, officials said. The governing body said 17 parties picked up bidding documents, but only seven bids were submitted when the deadline closed on Monday.

I am pleased to be able to announce that bids were received in respect of all seven teams, at an average price of 4.3 million dollars per bid, Vajira Dassanayake, head of marketing and communications Sri Lanka Cricket said.

The inaugural Sri Lanka Premier League (SLPL) will run from August 10-31, featuring seven provincial teams, each having six foreign players in their squad but with a provision that only four can be fielded in a playing XI.

Dassanayake said the names would be announced shortly, after top board officials go through the details in the bids.

The tournament, which is estimated to cost around 1.7 million dollars, will be played at the R. Premadasa in Colombo and Pallekele in Kandy.

Singapore-based Somerset Entertainment Ventures, which owns the commercial rights for the tournament for 15-years, will pay for the foreign players and pick-