Sri Lanka Cricket denies claims of financial crisis

Sri Lanka Cricket (SLC) categorically clarified that there is no basis whatsoever for certain media reports alleging that the organization is facing a “financial crisis” following the appointment of the “Cricket Transformation Committee.” 

SLC wishes to emphasize that the Sri Lanka Cricket Transformation Committee was appointed by the Hon. Minister of Sports and Youth Affairs in the exercise of the powers vested in him under Sections 32 and 33 of the Sports Law, No. 25 of 1973, as amended. 

Upon the issuance of such an Order under Section 32, the powers, functions, administration, management, and control of the affairs and property of the relevant sports body, including its finances and assets, vest with the Committee appointed by the Hon. Minister for the purpose of administering the institution. 

Accordingly, the duly appointed Transformation Committee is fully empowered and mandated to administer and manage the affairs of Sri Lanka Cricket, including all financial operations and obligations of the organization, until the election of a new Executive Committee. 

The appointment of the said committee has already been duly published in the Government Gazette, thereby providing the committee with full legal authority to act on behalf of Sri Lanka Cricket in all administrative and financial matters. 

In light of the above, SLC wishes to reiterate that reports suggesting that the organization is unable to manage its finances or that its financial administration has been adversely affected following the appointment of the Transformation Committee are entirely false and misleading. 

Sri Lanka Cricket continues to carry out its day-to-day operations, including meeting all financial obligations and administrative functions, without any interruption or hindrance. 

This includes the timely settlement of payments to suppliers, service providers, employees, players, and all other stakeholders.