Sri Lanka Cricket (SLC) began the year on a positive outlook, recording a Rs 63mn surplus in 2016. As at December 31, 2017, the board’s net profits stood at Rs 2.13bn compared with Rs 63mn recorded during the 2016 financial cycle. They now stand at Rs 1.16bn, a reduction of Rs 226mn when compared with the 2016 financial year (when they were Rs 1.39bn). The board spent Rs 284mn on development of stadiums, school cricket and other administrative grants over a mere Rs 42mn in 2016. In 2015, SLC deployed Rs 34mn on the sector but whittled it down to just Rs 10mn in 2016.

Source: Sunday Times May 06, 2018 01:41 UTC