The International Cricket Council said on Thursday it and the Pakistan Cricket Board (PCB) have resolved their dispute relating to the staging of the 2011 Cricket World Cup.
The breakthrough came at a meeting between ICC President David Morgan and Pakistan Cricket Board (PCB) Chairman Ijaz Butt at the ICC office in Dubai, the governing body revealed in a statement made available to AFP.
In an agreement with the ICC's commercial arm, the PCB will retain its host fees and also receive an additional 10 million dollars as 'reasonable compensation' for loss of hosting rights which it would have pocketed had it hosted the matches on Pakistani soil.
Earlier this month, a PCB official indicated Pakistan had decided to end its legal battle against cricket's governing body over being stripped four months ago of its share of World Cup 2011 matches owing to security fears.
The ICC relocated Pakistan's share of 14 matches because of security fears after terror attacks in its eastern city of Lahore on the Sri Lankan team on March 3.