Parliament: Settlement  costs SLC USD 3 mn



by Saman Indrajith


Sports Minister Mahindananda Aluthgamage told Parliament yesterday that Sri Lanka Cricket had lost USD 3 mn in a case filed against it by a Tamil Nadu company over telecasting rights.


The Minister, responding to a question raised by UNP Colombo District MP Ravi Karunanayake, said that a match that had been played in Sri Lanka had been telecast in Sri Lanka using Tamil Nadu satellite technology. Later, an affected party, that had the rights to telecast them in Tamil Nadu, filed a case against Sri Lanka cricket. To settle this case the Sri Lanka Cricket had to pay the aforesaid sum.


The minister admitted the payment was a loss to the Sri Lanka Cricket.


He said that Sri Lanka cricket’s bank overdraft had run into Rs. 83,293,613 last year. Financial reserves of the Sri Lanka Cricket stood at Rs. 476 mn last year.


Minister Aluthgamage said that Sri Lanka Cricket’s financial reserves for the year 2011 were -333 million rupees.


Asked to inform the House of the details of income generated by Sri Lanka Cricket (SLC) with the sale of broadcast rights during the last four years, the minister said the SLC had earned USD 9 mn in 2009, USD 15 mn in 2010, USD one million in 2011 and USD 16 mn in 2012.


 
 
 
 
 
 
 
 
 
 
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