COLOMBO: Sri Lanka has postponed a scheduled Twenty20 league this month because of a financial crisis and the possibility of further losses after India pulled out of the event.

Sri Lanka Cricket spokesman Brian Thomas said Friday the league's first edition is being planned for next year.

Cricket officials have been accused of corruption and mismanagement and the sports body is in millions of dollars of debt after co-hosting this year's World Cup along with India and Bangladesh.

''Honestly, we are finding it difficult to have the premier league without India's support. We can't get into more debt,'' Thomas said.

Sri Lanka Cricket has accumulated $69 million in debt after the World Cup and amid allegations of corruption the sports minister fired the previous administration.

India last month barred its players from taking part in the Sri Lanka Premier League, saying the tournament was being organized by a private company.

Twelve players including internationals Praveen Kumar, Munaf Patel and Ravichandran Ashwin were among those who had been expected to take part in the tournament.

Without the participation of Indian players, tournament organizers and Sri Lanka Cricket could not hope to get lucrative contracts from Indian broadcasters.

Thomas said the country's newly appointed cricket authorities are hopeful of reaching an agreement with India over participation in next year's planned league.