The second edition of Sri Lanka Premier League (SLPL) was on Wednesday scrapped after all the franchises failed to cough up their tournament fees with less than a month remaining for the tournament to commence.
Sri Lanka Cricket said in a statement that this year's SLPL, scheduled to be held from August 10 to September 7, will not take place as the teams have not paid franchise fees besides also failing to deposit with the Board the bank guarantees to secure player payments.
"Sri Lanka Cricket regrets to announce that the Mahindra SLPL 2013 scheduled to commence on 10th August 2013 will not take place due to the fact that the Franchisees have failed to pay the Franchise Consideration for this year," the SLC said in the statement.
"More importantly (they) have failed to deposit with SLC the bank guarantees to secure the player payments. In the circumstances the Mahindra SLPL 2013 will not take place," the SLC said.
According to reports earlier in the day, the organisers have also postponed the tournament draft that was scheduled for July 14 to July 20 to allow franchise owner more time to pay up.
"Somerset Entertainment Ventures (SEV) CEO Sandip Bhammer confirmed that not all franchises have paid their tournament fees, despite having breached two deadlines," a report in Espncricinfo.com said.
SEV is the marketing partner for the tournament. In order to take part in the league, each of the eight franchises is due to pay $4.33 million a year on average to Sri Lanka Cricket (SLC).
"SLC have made it clear that unless the franchises pay, they will not be able to take part in the draft," Bhammer was quoted as saying.