No Sri Lankan owners for Sri Lanka Premier League (SLPL) franchises

Indian business houses buy all seven Sri Lanka Premier League franchises

Colombo, Jun 27:  Sri Lanka Cricket (SLC) expressed satisfaction at the progress made over the bids process for Sri Lanka Premier League (SLPL) franchises.

“I am pleased to announce that bids were received in respect of all seven teams, at an average price of $4.3 million per bid,” Vajira Dassanayake, a SLC official said.

A report in the Colombo newspaper Daily Mirror said the bids also came from Indian companies. India’s Wadhawan Holdings, with interest in hotels and food retail, submitted the highest offer of $5.02 million for the Wayamba team, the report said.

Subsequent to the opening of bids, the award of the teams to the respective successful bidders was also completed subject to approval of the executive committee of SLC.

The names of the successful bidders, together with their respective teams are to be announced later.

The SLC sources said as many as 13 bids were received including from India. This was despite the non-participation of Indian players in the SLPL. The base price for the franchises had been set well below the IPL. They are not sold outright and only leased for a period of seven years and subject to renegotiations thereafter.

The tournament is to kick off on August 10, with the final to be played on August 31. The 24 games will take place in the Premadasa Stadium in Colombo and at the Pallekele Stadium in Kandy.

The original SLPL scheduled for last year was aborted due to Indian players pulling out. This time however the local authorities have vowed to carry on without the Indian players.Each franchise team will be allowed a maximum of 18 players in their squad with a ceiling of six overseas players in each squad.

Just like the IPL, the teams can field only four overseas players in the playing eleven with at least one local player under the age of 21.

Singapore-based Somerset Entertainment Ventures which owns the commercial rights for the tournament for 15 years, they will meet the expenses of the tournament and will get the income from selling broadcasting rights.

IPL’s TV partner Sony Entertainment Television (SET) is likely to secure the TV rights of the SLPL for their new sports channel ‘Six’, sources said.

SLPL will conduct a player auction on July 5 for the franchises to buy their players through a competitive process while the icon players and foreign stars who will have a set base price can be won through a lottery. Salaries of all players would be paid by the franchises while SLC will submit a list of 40 local players for the auction.

The SLPL Franchise owners (According to a report in Sri Lankan media)

Wayamba – Wadhawan Holdings Private Limited – $5.02 million
Kandurata – Number One Sports Consulting Private Limited – $4.98 million
Ruhuna – Pearl Overseas Limited – $4.6 million
Uva Success Sports Private Limited – $4.6 million
Basnahira – Indian Cricket Dundee Limited – $4.33 million
Uthura – Rudra Sports Private Limited – $3.4 million
Nagenahira – Varun Beverages Lanka Private Limited – $3.22 million