SLC refutes financial crisis reports

• Says CTC legally empowered to govern

Sri Lanka Cricket (SLC) releasing a media statement on Tuesday (19), categorically clarified that there is no basis whatsoever for certain media reports alleging that the sport’s domestic governing body is facing a ‘financial crisis’ following the formation of the CTC.

In its media statement it said “SLC wishes to emphasise that the Sri Lanka Cricket Transformation Committee was established by the Sports Minister in the exercise of the powers vested in him under Sections 32 and 33 of the Sports Law, No. 25 of 1973, as amended. Upon the issuance of such an Order under Section 32, the powers, functions, administration, management, and control of the affairs and property of the relevant sports body, including its finances and assets, vest with the Committee formed by the subject Minister for the purpose of administering the institution concerned.

Accordingly, the duly appointed Transformation Committee is totally empowered and mandated to administer and manage the affairs of Sri Lanka Cricket, including all financial operations and obligations of the institution, until the election of a new Executive Committee. The formation of the said Committee has already been duly published in the Government Gazette, thereby providing it with full legal authority to act on behalf of the SLC in all administrative and financial matters. In light of the above, SLC wishes to reiterate that reports suggesting that the game’s ruling body is unable to manage its finances or that its financial administration has been adversely hampered following the establishment of the CTC are wholly false and misleading. SLC continues to carry out its day-to-day operations, including meeting all financial obligations and administrative functions, without any interruption or hindrance. This includes the timely settlement of payments to suppliers, service providers, employees, players, and all other stakeholders.”

Source - The Morning