Sri Lanka Cricket estimates a net profit of Rs. 250 million out of the ‘SLPL’

By: Prasanna C. Rodrigo

Sri Lanka Cricket says it is estimating a net profit of Rs. 250 million out of the upcoming Sri Lanka Premier League Tournament.

SLC Treasurer Nuski Mohamed speaking to News360.lk said, “We are estimating a net profit of Rs. 250 million out of the SLPL’s first edition”.

According to Mohamed, Sri Lanka Cricket will have several revenue streams coming out of the upcoming tournament.

Among them ranks the 50% share it will get out of the franchise fees.

“We will get US$ 2.1 million per annum through the franchisee fees” added Mohamed.

SLC has already got the first years payment from the franchise holders.

SLC treasurer said the rest of the 50% of the franchise fees will go to Somerset Entertainment, which acts as the marketing arm of the tournament.

Apart from the franchise fees, SLC will also receive an annual licensing fee from Somerset Entertainment for giving them the commercial rights to be a part of organizing the SLPL.

“Somerset is paying us a fee ranging around 350,000 – 400,000 per annum” added Nuski Mohamed.

Somerset has been given the rights to be a part of the ‘SLPL’ for several years, starting from this edition.

Sri Lanka Cricket will have to bear the venue cost of holding the matches.

Each franchisee will have to pay US$ 4000 for SLC, every time they play a game, thus accounting for a total of US$ 8000 for each game to cover the venue cost.

Venue cost will comprise payments such as fees for umpires, supply of food and beverage, providing security and lighting etc.

Revenues coming out of the ticket sales will go to the franchisees while SLC will charge a fee for handling the logistical part of printing and selling tickets.

Sri Lanka Cricket will have no claims for the revenues earned via selling the broadcasting rights of the tournament and those money will go to Somerset Entertainment.

Players Payments, air fares and accommodation  will be the responsibility of the respective  franchise holders.

contact the reporter on news360@sltnet.lk