Sri Lanka Cricket reaps record profits despite shocker year

By AFP | May 17, 2018

Sri Lanka Cricket

Sri Lanka's cricket board on Wednesday announced a profit of $14 million last year, far above all previous records despite one of the worst on-field performances by the islanders in years.

The board said it made a net profit of 2.12 billion rupees ($14 million) in 2017 — a staggering 33 times what it made the year before.

Revenues, at six billion rupees, were roughly double 2016 figures, Sri Lanka Cricket (SLC) said in a statement.

"This was a result of SLC's strategic growth plans and prudent financial management," the board said in a statement.

The board did not elaborate on its dramatic turnaround.

But sources attributed the sharp rise in profits to a packed 2017 calendar which featured home series against Bangladesh, India and Zimbabwe.

Earnings from the broadcasting of the Indian tour were thought to be a major contributor to the coffers, but Sri Lanka Cricket would not comment.

The record-breaking profits were the only good news from an otherwise woeful spell for Sri Lanka cricket, with the islanders enduring their worst year on the pitch since winning the World Cup in 1996.

They suffered a full series defeat against India and humiliatingly lost a home one-day series to bottom-ranked Zimbabwe.

They also bowed out early from the Champions Trophy in June last year.

© Agence France-Presse

Comments

delan82's picture
Member since:
18 October 2009
Last activity:
12 hours 25 min

Great so what where they doing the previous year(s). The treasurer should give detailed accounts and how they plan to maintain or build on this in the next year.

The on field woes need to be fixed though cos eventually money will go if team can't be competitive or win.

Suriya's picture

Most of the funds came from Indian tour revenue and ICC payments and not because of any profits from SLC initiatives.

SLC has been spending lavishly from the revenue that has come from merely participating in ICC tournaments and playing against India but has cut the pay from players!!

SLC has also quietly also removed 2bn in debt from the ledgers for Mahinda Rajapksa Stadium construction no??

Anonymous's picture

What not pointed out is the huge revenue lost for not being at the top half of ICC ranking Tables. What are the revenues of those at the top half of the ICC Ranking Tables compared to bottom ranked SL? It is misleading to talk about earned peanuts by SLC instead of lost revenue due to poor standing. The current chief selector and 6 lakh Coach partly responsible for huge revenue lost. The lost revenue could have used to hire SL expert cricket coaches such as Mahela, Murali, Malinga etc instead of some foreigners only speaks English.

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