Sri Lanka Cricket (SLC) in collaboration with the event rights holder of the Lanka Premier League (LPL) – the IPG Group, has officially announced that the franchise partnerships of the ‘Colombo Strikers’ and ‘Jaffna Kings’ have been terminated.
According to a statement issued today (April 28), the terminations were made due to the respective franchises’ failure to fulfill contractual obligations outlined in their agreements with the IPG Group, which were established at the commencement of their participation in the league.
Accordingly, the forthcoming edition of the Lanka Premier League will feature franchises representing Colombo and Jaffna under new ownership, the statement notes.
As the event rights holder, the IPG Group retains the exclusive rights over the LPL franchise teams and, accordingly, is vested with the authority to transfer and/or assign the ownership rights of the said franchises to interested parties.
Sri Lanka Cricket and The IPG Group remain committed to upholding the integrity, standards, and success of the Lanka Premier League and look forward to an exciting upcoming season with renewed participation.