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Sri Lanka Cricket sets record straight on Lanka Premier League finances

LPL

Sri Lanka Cricket yesterday in a statement clarified recent media reports that the Innovative Production Group (IPG) had defaulted on its payment obligations under the Lanka Premier League (LPL) Event Rights Agreement.

“We wish to clarify that pursuant to the open tender process carried out by Sri Lanka Cricket, Innovative Production Group FZE (IPG), a company incorporated in Dubai was granted the ‘Event Rights,’ in respect of Lanka Premier League Tournament for a period of five years, commencing from the year 2020. Accordingly, the IPG entered into a contract with Sri Lanka Cricket wherein the company obliged to pay $ 1,925,000 per year as the ‘Event Rights Fee’ for the years 2020 and 2021,” stated an SLC release.

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