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Rediff News  All News  » Cricket » PCB to get $16m as WC non-hosting compensation

PCB to get $16m as WC non-hosting compensation

August 04, 2011 11:58 IST

The Pakistan Cricket Board (PCB) will receive around $16 million as compensation from the 2011 World Cup earnings in the wake of it not being allowed to host a single match of the tournament.

The decision came as the International Cricket Council had relocated World Cup matches venues in Pakistan due to security concerns following a terrorist attack on the Sri Lankan team in Lahore in March 2009.

"The total package includes hosting fees and other benefits," the Daily Times quoted a World Cup secretariat source, as saying.

He said the ICC had already released around 10.5 million dollars to the PCB soon after the World Cup concluded in April.

"The rest of the amount is also due to be paid to the PCB soon," he said.

The source said the ICC agreed to pay compensation to the PCB in the wake of problems faced by it after international cricket teams had refused to tour Pakistan citing security concerns.

"The ICC realises that with Pakistan being forced to play all its home series at neutral venues, it is losing out on hard earned money that it would have made if it had hosted matches at home. The ICC also knows that the PCB is facing a financial crunch because of India's refusal to play bilateral series. The board had also lost out on valuable earnings of around $40 million when India cancelled its Test tour to Pakistan in early 2009 because of the Mumbai attacks", the source said.

"The PCB has also got compensation for the in-stadia sponsorship rights, hospitality box earnings and ticket revenues that it had lost out on because of the shifting of the matches," the source added.

Source: ANI