Social media of Sri Lanka continent is flooded with reactions on the news of Lyca Group Chairman Allirajah Subaskaran buying the Lanka Premier League (LPL) franchise Jaffna Stallions, Winner of the inaugural edition. A Sri Lanka born business tycoon, Subaskaran is also the chairman of Swarnawahini TV Channel.
When Cricket Age inquired about how Lyca Group ended up buying Jafna Stallions and how former owners were discarded from the franchise, some interesting facts were revealed.
According to sources, the inability of Jafna Stallions former owners to pay the license fees upfront forced Founder and CEO of Dubai-based production giant The IPG Group, the official promoter of LPL, to opt for another franchise and that’s how Lyca Group came into the scene. It learnt that though Stallions former owners had a whooping 12 stakeholders, the show was run by former Sri Lanka player Russel Arnold’s cousin Anandan Anand. UK based Anandan is an accountant by profession and reportedly handles accounts of two former Sri Lanka players also.
According to sources, for LPL inaugural edition in 2020 also, Anandan and his partners could deposit only half of the money, that too after discounts by the IPG. Even then, by ignoring their financial limitations, those two former Sri Lanka players kept advocating for them!
Cricket Age understands that during that particular period, there were many attempts from some interested parties to snatch the LPL from Sri Lanka Cricket (SLC) and runs the league as a separate entity! They even tried to mislead Sports Minister Namal Rajapaksa, but when their intentions weren’t fulfilled, they distanced themselves from the LPL altogether.
The former Stallions owners, though, were replaced only after they refused to deposit this year’s license fees as well. That’s when, the IPG group started searching for other investors.The Lyca Group is a British multinational corporation, delivering low-cost, high-quality products and services to communities across the globe.
“As the same group owns Swarnawahini TV Channel as well, it will boost brand LPL’s significantly” a source, who is aware of developments, told Cricket Age.
Following the huge success of the first LPL edition last year, the tournament has attracted global Investors as well. Few weeks ago, another LPL franchise Galle Gladiators, which fell short by a whisker to win the inaugural edition of the Lanka Premier League going down to eventual winner Jaffna Stallions in a closely fought final, was bought by Nadeem Omar. He also owns the Quetta Gladiators franchise in the Pakistan Super League (PSL) and is a Pakistani business executive and former scrabble player who is known nationally and internationally for his contributions to sports. He has been the president of the Pakistan Scrabble Association since October 2020 and the president of the Karachi City Cricket Association since May 2018. He is also the president of the Pakistan Cricket Club.
