Sri Lanka Cricket has signed a new deal with Somerset Entertainment Ventures to hold the Sri Lanka Premier League in 2012.
The deal was signed on May 5 and the tournament has been tentatively scheduled to be held between August 10 and August 31, just ahead of the ICC World Twenty20 that will be held in Sri Lanka in September.
The SLPL was supposed to kick off last year, with Sri Lanka Cricket's then interim committee signing a five-year deal with Somerset Entertainment Ventures to organise the event.
However, the Sri Lankan board was forced to postpone the tournament after the BCCI refused to allow its players to participate at the last minute, causing a delay in the naming of the final composition of the teams and affecting overall preparations for the event.
The format of the tournament remains the same.
SLPL will have seven teams that will play each other in a league format followed by semi-finals and finals.
The games will most likely be played in Colombo and Kandy.