The International Cricket Council (ICC) announced on Monday in Cape Town that Sri Lanka would host the ICC Champions Trophy in September.
Sri Lanka had been favourites to host the 12-team knockout tournament, which is designed to raised funds for global cricket development, after India were forced to decline an invitation to host the tournament.
"The ICC is delighted that the Board of Control for Cricket in Sri Lanka has agreed to act as host country for this major event," said its Chief Executive Officer Malcolm Speed. "We look forward to working closely with the Board in staging one of world cricket's most entertaining and high profile tournaments," he added.
The ICC set certain conditions for hosting nations, one of which is that all profits accrued in the country must be accorded tax-free status, which India 's government refused to grant. However, the ICC was happy with the tax situation in Sri Lanka after advice from their local tax consultants.
Vijaya Malalsekera, the chairman of the Board of Control for Cricket in Sri Lanka (BCCSL), believed the news was a triumph for the country and hopes that the countries ailing tourist industry will now receive a much-needed boost.
Speaking from South Africa, where he has been attending the ICC's executive board meeting, he said: "We are delighted to be hosting the event as it will do wonders for the tourist industry and the economy in general through the multiplier effect.
"The ICC consulted their own accountants on the tax implications and otherwise they appeared entirely satisfied with the way the discussions had proceeded."
Formerly called the ICC Knock Out Trophy, the biennual tournament has been restructured since last being played at Nairobi in October 2000, when it was run on a purely knockout basis, with New Zealand defeating India in the final.
This time there will be four groups of three, with the group leaders proceeding through to semi-final stage, meaning a daunting schedule of 15 matches in just 18 days.
Two grounds will be used in Colombo, Premadasa International Stadium and the Sinhalese Sports Club, with all the games at the former being day-night encounters.
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