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Monday, April 11, 2011

World Cup leaves Sri Lanka with $23 mln debt

A perspective of a R. Premadasa Cricket Stadium in Colombo during a cricket World Cup in Mar 2011. Sri Lanka Cricket pronounced Monday it is saddled with a $23-million-dollar debt after price overruns as well as large bills incurred structure stadiums for a World Cup.
©AFP/File – Lakruwan Wanniarachchi

COLOMBO, Sri Lanka (AFP) – Sri Lanka Cricket pronounced Monday it is saddled with a $23-million-dollar debt after price overruns as well as large bills incurred structure stadiums for a latest World Cup.

“We outlayed a lot of income to horde a World Cup, to set up dual stadiums as well as reconstruct a single stadium. The World Cup left us a 2.5 billion rupee ($22.6 million) deficit,” Sports Minister Mahindananda Aluthgamage told reporters.

Sri Lanka, which mislaid a last to India by 6 wickets, hosted twelve matches during a World Cup, with others hold in India as well as Bangladesh.

The island built dual latest drift in a southern locale of Hambantota as well as a executive locale of Pallekele, whilst scarcely $8 million was outlayed to reconstruct a Colombo-based R. Premadasa stadium.

“We outlayed about 5 billion rupees ($45.3 million dollars) to set up a 3 World Cup venues,” Aluthgamage said.

The apportion pronounced a ruling physique was forced to oath a newly built stadiums, along with income from arriving tours, as material to lift supports to compensate for a intemperate contest which finished upon Apr 2.

“We have been not in a critical income crisis,” Aluthgamage said. “Building latest stadiums costs a lot of money. You contingency demeanour during it as an investment for a destiny growth of a game.”

Sri Lanka Cricket treasurer Sujeewa Rajapakse pronounced a house took a $21.5 million loan from state-run Bank of Ceylon as well as an additional $3.5 million loan from a International Cricket Council (ICC) to waves them over a shortfall.

“We have been awaiting $25 million from a ICC soon, by approach of hosting rights. Once which comes, you can arrange things out,” Rajapakse said.

Sri Lanka is to face England, Australia, Pakistan as well as South Africa this year, as well as is additionally due to horde a World Twenty20 championships in 2012.

Sri Lanka won a solitary World Cup in 1996 as well as emerged finalists in 2007.

Since losing a last to India, a team’s captain, vice-captain as well as selectors have quit, whilst conduct manager Australian-born Trevor Bayliss additionally finished his stipulate to take up his aged pursuit during New South Wales.

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