Arjuna vows to overcome financial crisis

Chris DHAMBARAGE

Chairman Sri Lanka Cricket Interim Committee Arjuna Ranatunga yesterday vowed to rectify the financial crisis and improve the administration at the Board following lack of revenue in 2006.

The SLC is currently surviving on a Rs. 600 million bank overdraft with losses amounting to nearly Rs. 2.3 billion following the cancellation of the Triangular limited overs series between Sri Lanka, South Africa and India.

Due to the abandonment of this Triangular tournament the SLC also failed to recover the insurance cover amounting to US Dollars 11 million.

In addition the construction of a stadium in Pallakelle and the renovation of the tsunami-ravaged stadium in Galle have also cost the board a further US dollars 6.5 million.

However Ranatunga said that an internationally renowned audit firm Pricewater Coopers are scheduled to hand over their report on the financial crisis facing the SLC next week.

Ranatunga further said that this report will clarify if there were any irregularities and will also dispel any doubts relating to this matter.

Ranatunga also expressed his confidence that the insurance cover amounting to US Dollars 11 million could be recovered this year and is also hoping to review the current television deal with the Dubai based Ten Sports channel for their home international matches.

Ten Sports US dollars 50 million deal ends in 2009 and there were allegations that the previous administration had extended it till 2012 without a proper bidding process.

Ranatunga said that he is looking forward to the home series against India in July/August and is also planing to ask for a short-term loan from the BCCI to be set off against some of the future tour revenues. In fact most of the money that the SLC earns these days is through prize money won by the national team.

However Ranatunga was confident that he will meet his target to streamline the administration and nurture new talent.