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BCCSL chief executive Anura Tennakoon writes:

All full members including Sri Lanka were originally entitled to US $ 6.44 million generated from the profits of the recently concluded ICC World Cup 2003. This amount is net of subscriptions payable by full members upto and including 2004/2005 and is a specific grant for the development of the game in the respective countries upto the period ending with the next World Cup in 2007.

From the above distribution the ICC has made 2 withholdings which are possibly potential delayed payments. One of such withholdings is general and applies to all full member countries, while the other is specific and relates to certain full member countries. Firstly dealing with the general deduction, this applies to all 10 full members of the ICC.

A provision of 20% has been made from all full members to safeguard against various general infringements which will result in claims from GCCs sponsors, leaving a sum of US $ 5.086 million to be payable in the short term future.

Secondly, certain specific withholdings have been made against four member nations namely India, England, New Zealand and Sri Lanka for various reasons. The withholdings against Sri Lanka is for delay in submission of Players Contracts which was due to awaiting of the return of Sri Lanka team from Australia before completing negotiations on additional players fees. The withholding against Sri Lanka Board is for a sum of US $ 500,000.

The current position is as follows:

Sri Lanka Cricket Board will receive a sum of US $ 4.586 million in April. As there was no infringement on the sponsors rights to use players images etc. by either the Sri Lankan players on the Board, there are no specific claims against us. Therefore the withheld sum of US $ 500,000 will be remitted in May.

As regards to the final payment of US $ 1.354 million or 20% of the sum, this amount is expected to be made after deduction of all claims payable to sponsors etc. on infringements.

Equally important is to bring the funds so received under the custodian of trustees in order to channel these funds for the useful development of Sri Lanka Cricket and we await the amendments to the Sports Law No. 25 of 1973 to enshrine a safety net.

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