Tuesday Sep 24, 2024
Tuesday Sep 24, 2024
Monday, 29 May 2017 00:05 - - {{hitsCtrl.values.hits}}
By Madushka Balasuriya
Sri Lanka Cricket is planning to enlist the aid of an Asset Management Company (AMC) in overseeing several managerial functions presently under the sole purview of the national cricket body, it was announced yesterday, a shift that is expected to ease the SLC Executive Committee’s (ExCo) workload and allow them to focus primarily on governing and developing the game in the country.
Announcing the decision at an Emergency General Meeting prior to yesterday’s Annual General Meeting, SLC assured that the incorporation of the AMC will be a transparent process and one which will be carried out in collaboration with the Ministry of Sports and the departments of the Auditor General and Attorney General.
SLC has obtained the consent of Sports Minister Dayasiri Jayasekara and has referred the matter to the Attorney General’s Department for its approval.
The proposed move will also see a change in SLC’s legal status and structure from an unincorporated association into an incorporated body, Sri Lanka Cricket Company Ltd, under which the AMC will be incorporated as a fully-owned subsidiary of SLC. The decision followed a high-level study of the assets and financial position of Sri Lanka Cricket by professional advisory firm KPMG, that revealed the presence of similar structures at several cricketing bodies the world over, such as the International Cricket Council, the Asian Cricket Council and Cricket Australia, and as such it was clear that an AMC would help better manage and leverage SLC’s assets.
Sri Lanka Cricket at present is in debt to the tune of some Rs. 2.6 billion, and the ExCo explained in a release to stakeholders that managing this burden along with the day-to-day running of the game was not conducive to growth in the sport on or off the field.
On a practical level, the restructuring will see all of SLC’s physical assets transferred to the AMC, which will then be in charge of optimising revenue, the operational management of stadia and other cricket infrastructure as well as the regional development of the game.
The assets however will remain under SLC ownership with only the management side undertaken by a board consisting of outside directors and professionals. However, full control will be retained by SLC with a majority of SLC representatives set to be appointed to the Board of Directors.
Furthermore, the interests of SLC will be protected by the Company’s Article of Association. To ensure the transparent conduct of the AMC, the Article of Association will retain Ministry of Sports oversight, while the Auditor General will audit the accounts as required by Sri Lankan Sports Law.
With the introduction of a separate entity to manage its assets, SLC hopes to make major inroads towards its goal of enhancing Sri Lanka’s cricketing performance both on field and off field by focusing on “overall player development in knowledge, skills, attitudes focused at sustainable, balanced and world class players by 2025”
Announcing a “six pillar” plan, SLC identified a focus on High Performance Management, headed up by Simon Willis, as a key tenet in taking Sri Lanka to the top of the cricketing tree.
The key principles of Willis’ high performance program is to offer players a simple pathway to the Sri Lankan national side; invest most heavily in those with greatest potential; a long-term, individual approach; and effective talent recruitment, profiling and benchmarking.
Alongside this there will also be a focus on improving and developing players on a social and interpersonal level through the development of English language, leadership, social media, etiquette, public speaking and other networking skills. Players will also be offered psychological help to aid them in transitioning to the pressures of international cricket.
Sri Lanka Cricket will for the first time be including a Women’s Cricket representative in its Executive Committee, it was announced yesterday.
SLC President Thilanga Sumathipala made the announcement at an Emergency General Meeting held at the SLC headquarters yesterday. The move will be made official once the Women’s Cricket Committee nominates a member to take up the position.
Meanwhile, it was also announced at the EGM that a special Schools Cricket Committee will be formed. The committee will consist of the President of the Schools Cricket Association, two persons nominated by the Schools Cricket Association, Assistant Secretary of Sri Lanka Cricket, Assistant Treasurer of Sri Lanka Cricket and three other members elected soon after the SLC AGM.
Sri Lanka Cricket is looking to place more of a focus on cricketing affairs as opposed to administrative functions, and the move to include women›s cricket representation in the decision-making process, as well as the creation of a special Schools Cricket Committee, is seen as an effort to expand the sport’s reach in the country.
Pillar One: Develop highly-skilled and world-class teams who excel on and off the field
Pillar Two: Inspire next generation of players for a sustainable increment in participation in all levels
Pillar Three: Attract more fans and take cricket to more people than ever before
Pillar Four: Provide world-class leadership and management to deliver a Sri Lanka cricket strategy
Pillar Five: Identify, diversify and secure Sri Lanka cricket revenue streams, investment and resource allocation.
Pillar Six: Ensure best practices in governance
