COLOMBO: President of Sri Lanka Cricket Thilanga Sumathipala asserts SLC is in the right direction towards achieving the twin goals of sporting and financial success.
Addressing SLC employees here while commencing work for the year 2018 at the organisation’s headquarters, Sumathipala claimed that within two years of his election, SLC’s financial position had seen a turnaround from poor to strong.
“When we took over two years ago, SLC was indebted for a sum of LKR 5 billion and we were in a quandary as to how we are going to turn around SLC, now, after two years, I am happy to say we are making profits,” he said.
Tooting his own horn, Sumathipala further claimed that when he entered the fray, ICC had only allocated $80 million for the members during its paying cycle, but with the efforts he made to strengthen the relationship with other members yielded a collaborative effort to increase it to $120 million.
According to Sumathipala, SLC is now financially stable with a steady flow of revenues coming from different sources, while the organization has ensured that financial accountability is maintained at every level, with prudent mechanisms put in place for monitoring.
Sumathipala further said plans are underway to establish an asset management firm as a subsidiary of the SLC to better manage cash flows of major assets.
He said that the money generated out of the SLC asset management operations will be utilized to finance the maintenance of SLC facilities across the country, which as of now incurs millions and is borne out by the revenues generated by the SLC.
