By Shehan Daniel
The Lanka Premier League (LPL) is being viewed as ‘an investment for the future of Sri Lankan cricket’ even if it comes at a commercial loss, Sri Lanka Cricket (SLC) Secretary, Mohan de Silva said yesterday.
De Silva admitted that the tournament’s rights holders Innovative Production Group (IPG), had found it difficult to make its first payment to SLC but said SLC sees the tournament as more than just a revenue stream.
“They have also had difficulties but we, as a committee, have made some bold decisions in conducting this tournament. We view this as an investment in the future of our cricket, even if we have to incur losses,” he said.
This was after IPG’s CEO, Anil Mohan, claimed that his company had made all its due payments, on the eve of the tournament.
IPG bought the rights for the LPL in a five-year deal worth a little over US$ 10 million, and were expected to make the first payment of US$ 1.7 million before the tournament began.
IPG were awarded the tender for the television production of SLC’s home tours for the next three years earlier this year. There is a suggestion that IPG’s dues will be offset against payments SLC would need to make to them as production costs for those tours.
“They have made a major part of the due payment (for the LPL), and while we can offset the payments against future production costs for inbound tour next year, we have given them time to make the rest of the payment before that,” de Silva added.