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| May 10, 2006 | Wednesday | Rabi-us-Sani 11, 1427 |
SLC richer by $35 million
COLOMBO, May 9: Sri Lanka Cricket (SLC) said on Tuesday its finances were on a good wicket after clinching commercial sponsorships for the sale of television rights and ongoing tournaments. Net profits for 2005 were Rs356.97 million (US$35 million) compared to a loss of Rs321.53 million ($32 million) in the previous year.
The governing body of the island's most profitable and popular sport saw its total income jump to Rs881.78 million ($88 million) from Rs280.09 million ($28 million) in 2004.
“Nearly 80 percent of our revenues came from selling television rights,” the board's finance manager Upali Seneviratne said.
Sri Lanka Cricket signed a record $50-million television deal last year with Taj Television, the Dubai-based owners of TEN Sports.
Visiting teams from the West Indies, Bangladesh and a tri-series between the West Indies, India and Sri Lanka had also helped swell coffers.
However, the December 2004 tsunami left the board with a Rs52.43 million bill as giant tidal waves flooded and destroyed the Galle International Cricket Stadium, the statement said.
Sri Lanka pays a frenzied, cross-cultural obeisance to cricket that is worshipped like a national religion rather than merely a game. —AFP
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