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The PCB expects total returns amounting to US$18 million out of its agreement with the ICC over the staging of the 2011 World Cup. The ICC and the PCB, on August 27, resolved the dispute during a meeting between the ICC president David Morgan and PCB chairman Ijaz Butt in Dubai. It was decided that Pakistan would retain its hosting fee of US$ 10.5 million and receive an additional payment as compensation for losing the rights to host the tournament.

“At the moment the figure is around rupees 1 billion (US$12 million) but I hope it could go up to rupees 1.5 billion (US$ 18 million) by the time World Cup begins in 2011,” Butt told reporters upon his return to Lahore.

Pakistan was stripped of its rights to host the 2011 World Cup in the aftermath of the attack on the Sri Lankan cricketers in Lahore in March. The World Cup Secretariat, the organising body of the tournament, was also moved to Mumbai from Lahore and Pakistan’s share of the matches was allocated to the three other co-hosts, India, Sri Lanka and Bangladesh.

“We feel that this was the best possible solution and we will get additional amount and would not be forced to beg around for money to keep our cricket on track,” Butt said of the agreement. “It’s a confidential document which we both (ICC and PCB) signed, but I can tell you that much that I hope the total earnings of PCB might go up to rupees 1.5 billion.”

As a result of the resolution of the dispute, Butt said that the PCB would withdraw all its legal cases against the ICC. “Within the next 15 days the PCB will withdraw all its legal cases against the ICC,” he said.

Butt added that he and two of his PCB colleagues – Wasim Bari, the PCB Director for Human Resources, and Suban Ahmed, the General Manager for International Cricket Affairs – will attend the meeting of the tournament’s Central Organising Committee on September 2 in Mumbai. Pakistan, he said, would not be nominating any member to the secretariat. “The reason is it will be expensive for us to have our people in the secretariat when it is based in Mumbai and not Lahore,” he said. “But we will be part of the Central Organising Committee.”
Source:Cricket News

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