The inaugural Lanka Premier League T20 tournament will kick off on August 28, the Sri Lanka Cricket Board (SLC) said.
The board gave its approval to the tournament during its executive committee meeting on Monday. Five teams will compete for the title over 23 games.
"Sri Lanka Cricket Executive Committee at the meeting held today (27th July) granted approval to conduct the inaugural Lanka Premier League T20 Tournament from 28th August to 20th September 2020," SLC said in a statement.
The tournament will be played on the "four international venues of R Premadasa International Cricket Stadium, Rangiri Dambulu International Cricket Stadium, Pallekele International Cricket Stadium and Suriyawewa Mahinda Rajapakse International Cricket Stadium."
"5 Teams named after the cities of Colombo, Kandy, Galle, Dambulla and Jaffna will participate in the League."
The Board said that "over 70 International players and 10 top-notch coaches have already confirmed their availability for the tournament along with leading Sri Lankan national players."
In the tournament, each franchise will be allowed to pick a maximum of six foreign players in the squad with only four in the final eleven.
The Board will come out with a schedule for the tournament later and said: "the bidding for the event's Title Holder is due to close on July 30th".
SLC, which had conceived the league in 2018, was earlier optimistic of conducting the event from August 8 to 22, pending government's decision to open the country's border for foreign arrivals.
