Dec 12, Colombo: Sri Lanka Cricket is planning to transform its stadium properties into sustainable revenue generating centers to help the cash-strapped authority to ease its financial difficulties.
The cricketing authority says the move is another step taken towards rebuilding Sri Lanka Cricket (SLC) , not just as a brand but as an entity with a firm competitive advantage.
The SLC has eight stadiums under its management and most of the time only the Hambantota, Pallekele and R. Premadasa in Colombo are used for international matches while the Galle stadium is mostly used for Test matches.
Sri Lanka Cricket has been plagued with serious financial crisis since partially hosting the World Cup in April 2011.
Building two new stadiums in Hambantota and Pallekele and renovating the R. Premadasa in Colombo to host the World Cup matches put the board into about US$ 70 million in debt.
The SLC said it has earned Rs. 163 million during this year through new sponsorships apart from its previous sponsor categories and in addition to the revenues from TV & Radio Rights.
For the first time, the SLC has secured sponsors for IT equipment, Two-Way Handheld Radio sets, and Cricket Equipment etc. the board said in a market review.
A newly elected Executive Committee that took office this year has decided to appoint a fresh faced Marketing Department comprising professionals within the existing SLC cadre and the for the first time the SLC has secured a National Team Sponsor for ICC Events, M/s Homestead, an international real estate company.
The board expects more multi-national companies to invest in Cricket in Sri Lanka and partner a unique brand such as Sri Lanka Cricket in the future.