The team was paraded in an open bus to the Sri Lanka Cricket headquarters where large crowds were thronged along the route from the international airport to greet the champion team.
This was Sri Lanka's first major international trophy since they won a triangular home series involving India and New Zealand.
Sri Lanka beat India in the final played in August 2010. In the Asia Cup which concluded in Mirpur yesterday Sri Lankan defeated Pakistan to win the trophy. Skipper Angelo Mathews said the team was delighted to annexe the Asia Cup which he attributed to hard team work.
Addressing reporters, Mathews for the first time admitted to the on going contract row with their employer, the SLC.
"Yes we have a problem and we have not signed the contracts. Hoping for a settlement of the issue soon."
The players demand 20 per cent of money derived from ICC events. The SLC so far have not responded positively to the demand.
The SLC sources said they were in the process of working out a different formula which would be mutually beneficial to both the administration and cricketers.