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Volume 10 No. 25
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Sri Lanka Cricket Looks To Generate Revenue From New Stadiums

Sri Lanka's newly-built cricket stadiums, "which are at the heart of massive financial losses incurred by the governing body, will be converted into revenue-generating ventures," according to the PTI. A Sri Lanka Cricket spokesperson said, "Transforming stadium properties into sustainable revenue generating centers is also another step towards rebuilding Sri Lanka Cricket not just as a brand but as an entity with a firm competitive advantage." However, "no details were given about the plans." SLC suffered "significant financial losses" valued at $69M after co-hosting the 2011 World Cup with India and Bangladesh. The losses mainly came from the construction of new stadiums at Hambantota and Pallekele and modernization of the facilities at the Premadasa Stadium (PTI, 12/12).