$40m IPL sop for Lanka to cancel tour

COLOMBO: The IPL will pay $40 million to cash-strapped Sri Lanka Cricket as guarantee money the SLC will forfeit due to cancellation of the two-Test series in England next year.
This was decided at a recent meeting in India between chairman and commissioner of IPL Lalit Modi and Sri Lanka Players Association secretary Graeme Labrooy.
"An annual sum of $4 million for the next ten years from IPL will be given as guarantee money the SLC will forfeit due to cancellation of the Two-Test series in England next year," a top SLC source said.
SLC chairman Arjuna Ranatunga had insisted on SLC getting these guaranteed funds for development of domestic cricket before reaching a compromise, sources said. Ranatunga was concerned SLC was not benefitting from the IPL.