Tuesday, December 21, 2010
Axed WC host Pak still earns millions
Sources in the PCB have confirmed that the International Cricket Council and the three host nations of the World Cup - India, Sri Lanka and Bangladesh - have assured Pakistan it would get its share of hosting fees, sponsorship and ticket revenue earnings from the matches it was supposed to host.
Pakistan was given 14 matches including a semifinal of the World Cup but after militants attacked the Sri Lankan team in Lahore last year, the ICC shifted the games to other three host countries.
"But despite the disappointment of not being part of the World Cup as hosts, Pakistan has been reassured it would get the hosting fees of the 14 matches plus part of the sponsorship and ticket-sale revenues earned from these matches wherever they are hosted," one source said.
He said, in the recent executive board meeting, the new President of the ICC - Sharad Pawar - had assured PCB Chairman Ijaz Butt that Pakistan would benefit financially from the World Cup.
Since the attack on the Sri Lankan team, Pakistan has been forced to play all its home series at neutral venues because of the volatile security situation in the country.
But the source said despite playing at neutral venues, the PCB had still earned profits from its 'home' series played in the UAE, New Zealand and England in the last two years.
"Ijaz Butt has been lobbying effectively to ensure that Pakistan still retains the title of hosting rights of the matches moved from Pakistan, ensuring the PCB does not lose out on the hosting fees paid to countries by the ICC for the World Cup matches," the source said.
The source said besides getting a hosting fees of USD 10.5 million, the ICC and other host countries will also pay the PCB additional compensation for the loss of hosting rights.
The PCB had initiated legal proceedings against the ICC after it moved away the World Cup matches from Pakistan last year but both parties settled their dispute and reached an agreement on payment of hosting fees and compensation.