SLC says no govt funds will be utilised

Proposed International Cricket Stadium in Homagama

18 May 2020 07:10 pm - 12     - {{hitsCtrl.values.hits}}

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Responding to some of the media reports and concerns over the proposed International Cricket Stadium in Homagama, Sri Lanka Cricket (SLC) today said the project will be an absolute and private investment of SLC and no government funds will be utilized and/or will be sought at any stage of the construction.

In a statement, the SLC said there were several media reports published regarding the proposed International Cricket Stadium in Homagama and some of these reports may have created misconceptions in the minds of the readers, which are detrimental to the image of both the Government and the SLC. 

"We wish to state that the renowned R. Premadasa International Cricket Stadium in Khettarama has been obtained for a 30-year lease from Sugathadasa Sports Complex Authority of Sri Lanka in 2006 and SLC is proud to say that a substantial amount of Cricket has been played in the stadium annually and it is now designated as the High-Performance Centre for Cricket with a view to raise the game to the next level.
For a considerable period of time, Sri Lanka Cricket (SLC) has been on the watch and was exploring possibilities in acquiring a suitable land closer to Colombo to build a fully-fledged International Cricket stadium with a view to accommodating 40,000 spectators, as the need has arisen with the popularity of the game of Cricket and to best suit the demands of the World Cricket.
In the meantime, the proposal was extended to SLC by the Government of Sri Lanka allocating 26 Acre land in Homagama in order to build an international Cricket stadium at SLC's cost. In view of the diverse climate and bio conditions in the Country, SLC has invested in International Level Cricket Stadiums around the country, which is aimed at playing in different seasons in consideration of the respective weather conditions.
SLC having discussed the Homagama International Cricket Stadium project, called for an Expression of Interests from reputed Audit Firms in Sri Lanka to carry out a feasibility study on the finances associated with the project along with repayments of the capital expenditure to be staggered for a period of 15 years.
In view of the increasing demand for the game and especially due to the popularity of the short formats of the game, the need has arisen to cater to large crowds with easy access in an urban environment. It should also be noted that ICC has now afforded the opportunity for member countries to express the Interest in staging the World Cup series in the respective countries for which it is expected to have at least five international level cricket stadiums in the country with a seating capacity of around 25,000 – 40,000.
It is undoubted that Cricketing events of such magnitude will bring massive foreign currency inflow to the Country which is an essential fact in today's economy standpoint. Further, it is important to note that Sri Lanka Cricket has also expressed interest in the ICC’s request to host two ICC World Cup events which are scheduled to be held in the year 2023 to 2031.
Taking all aspects into consideration and after evaluating the completion of a comprehensive study on the project’s operational aspect and its financial feasibility, the Executive Committee of Sri Lanka Cricket will decide on how to proceed with investing in this project as the sole investor.

It also should be noted that financial feasibility should assure the non-hindrance to the operational and other development projects which are currently engaged by SLC due to the commencement of the Homagama International Cricket Stadium project," the statement said.

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  Comments - 12

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  • Ruwan Monday, 18 May 2020 07:32 PM

    We know your game plans,there will a day where the masses will understand the situation lets wait until such time.

    Bandu Monday, 18 May 2020 07:39 PM

    Why cannot SLC or the investors donate the funds for Covid 19 rehabilitation?

    Cricket fan Monday, 18 May 2020 07:52 PM

    Didn't know that SLC is already a privatized entity.

    Bande Monday, 18 May 2020 07:55 PM

    Is SLC belongs to another country?

    Genuinely Curious Monday, 18 May 2020 08:02 PM

    No Government funds translates to more loans?

    B. H. K. De. Silva Monday, 18 May 2020 08:15 PM

    It is my personal opinion why to spend such a colossal sum for another stadium. Can’t we utilize that money to improve the skills of the cricketers and their facilities. If srilanka cricket has money , the government should be able to take that and spend on a worthy course more that constructing a stadium. Srilankans are suffering but the officials are flourishing !!

    karu Monday, 18 May 2020 08:27 PM

    So it's SLC (Pvt) Ltd. I wasn't aware.

    Patriot Monday, 18 May 2020 08:32 PM

    It would be prudent at this emergency situation for the SLC to donate the monies in their hold to the President's Covid 19 Fund.

    Patriot Monday, 18 May 2020 08:32 PM

    It would be prudent at this emergency situation for the SLC to donate the monies in their hold to the President's Covid 19 Fund.

    Anthony Monday, 18 May 2020 08:35 PM

    what nonsense they are looking at, do good things for the need, give better facilities to our war heroes, who are on wheel chairs.

    Chryshan K. Monday, 18 May 2020 08:38 PM

    Oh god SLC was looted by its exco and govt had to fund to bail them out. When majority of the stadiums are idelling without games they wants to build some more stadiums. By any chance is this managed by any betting centres or gambling people.

    Mark Anandappa Monday, 18 May 2020 08:38 PM

    IRRESPECTIVE of private investment of SLC or Govt funds is it the top most requirement of SLC presently to build a ground. Unless the big wigs think its time earn "money " prior to them been voted out from the next AGM. SHAME ON YOU SLC


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