Sri Lanka Cricket (SLC) and the IPG Group have officially terminated the franchise partnerships of the Colombo Strikers and Jaffna Kings in the Lanka Premier League (LPL).

The IPG Group cited the failure of both franchises to fulfill contractual obligations as the reason for their removal.

New ownership will now take over the Colombo and Jaffna teams ahead of the upcoming LPL season.

As rights holder, IPG will oversee the transfer of franchise ownership to interested parties.

Both SLC and IPG affirmed their commitment to maintaining the integrity and success of the LPL.