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SLC still in deficit of Rs 311m at end of 2014

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Sri Lanka Cricket (SLC) is still left with a deficit of around Rs, 311 million (Rs. 311,217,827) to clear at the end of 2014.

The statement of accounts for the year is expected to be tabled for approval at the next ExCo meeting to be held on Tuesday.

However the 2014 figures are a big improvement from the Rs. 1.1 billion (Rs. 1,111,400,625) the SLC was left with at the end of 2013.

The majority of the debts still to be cleared come from financing the construction and upgrading of the three stadiums used to host the 2011 World Cup matches – at Hambantota, Pallekele and Colombo (R Premadasa Stadium).

As other liabilities SLC still owes the Bank of Ceylon Rs. 450, 594,495 and the ICC Rs. 413,107, 961 from loans borrowed and has a bank overdraft of Rs. 192,583,885.

Among the expenditures incurred for 2014 are: Rs. 256,329,329 for administration, Rs. 71,134,484 for finance, Rs. 392,011,529 staff cost, Rs. 1,082,323,458 for international tournaments, Rs. 1,133,435,832 for cricket operations and development Rs. 15,339,171 as legal fees, Rs. 3,348,566 on foreign travel and Rs. 20,773,845 to Sugathadasa Stadium and NSCA.

Expenditure for maintenance of stadiums – Rs 38,393,684 (R Premadasa Stadium), Rs. 16,673,315 (Pallakele), Rs. 15,637,428 (Hambantoa), Rs.14,015,240 (Dambulla), Rs. 23,014,276 (Galle), Rs. 4,375,684 (Welegedara Stadium), Rs. 2.4 million (Surrey Village, Matara and Badulla).

SLC derived income of Rs. 192,553.579 from Taj Television (Ten Sports) and Rs. 2,517,967,319 from international tournaments and from sponsorships – US$ 4.85 million from Mobitel on team sponsorship (48 months), Rs. 703.9 million from Dialog and Rs. 538.5 million from Sri Lanka Tea Board on team sponsorship (36 months from June 1, 2013- May 31, 2016) and US$ 35,187,913 from Taj Hotel (April 1, 2013-March 31, 2020).

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