The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae8 hours ago
“We spent a lot of money to host the World Cup, to build two stadiums and rebuild one stadium. The World Cup left us a 2.5 billion rupee ($22.6 million) deficit,” Sports Minister Mahindananda Aluthgamage told reporters.
Sri Lanka, which lost the final to India by six wickets, hosted 12 matches during the World Cup, with others held in India and Bangladesh.
The island built two new grounds in the southern town of Hambantota and the central town of Pallekele, while nearly $8 million was spent to renovate the Colombo-based R. Premadasa stadium.
“We spent about five billion rupees ($45.3 million dollars) to build the three World Cup venues,” Aluthgamage said.
The minister said the governing body was forced to pledge the newly built stadiums, along with income from upcoming tours, as collateral to raise funds to pay for the lavish tournament that ended on April 2.
“We are not in a serious cash crisis,” Aluthgamage said. “Building new stadiums costs a lot of money. You must look at it as an investment for the future development of the game.”
Sri Lanka Cricket treasurer Sujeewa Rajapakse said the board took a $21.5 million loan from state-run Bank of Ceylon and another $3.5 million loan from the International Cricket Council (ICC) to tide them over the shortfall.
“We are expecting $25 million from the ICC soon, by way of hosting rights. Once that comes, we can sort things out,” Rajapakse said.
Sri Lanka is to face England, Australia, Pakistan and South Africa this year, and is also due to host the World Twenty20 championships in 2012.
Sri Lanka won its sole World Cup in 1996 and emerged finalists in 2007.
Since losing the final to India, the team’s captain, vice-captain and selectors have quit, while head coach Australian-born Trevor Bayliss also ended his contract to take up his old job at New South Wales.
The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae8 hours ago
Dravid's tenure comes to an end after the T20 World Cup 2024 in the USA and West Indies
sports9 hours ago
Stand-in skipper Jitesh believes the absence of key England players will not affect his side's morale on Sunday
sports9 hours ago
Netanyahu came under personal attack from Defence Minister Yoav Gallant for failing to rule out an Israeli government in Gaza after the war
world10 hours ago
The fund is designed to finance the production of artistic and creative works in film, music, performances, and video games
uae10 hours ago
Fico has been in hospital since Wednesday when a lone gunman shot him four times, including in the abdomen
world10 hours ago
The country was one of the donor states to freeze around $450 million in funds after Israel accused 12 UNRWA staff of participating in the Hamas-led attack
world11 hours ago
This inclusive community service is available daily on Al Hamriya Beach from 6.00am to sunset
uae11 hours ago