PCB suffered losses of 51.22 million dollars due to foreign team's refusal to visit country

Lahore, Dec.3 (ANI): The Pakistan Cricket Board (PCB) has suffered whopping losses of 51.22 million dollars due to the refusal of foreign teams to visit the country due to security concerns.

According to an official document of the PCB, the board has suffered massive losses due to the cancellation of various series, but the major loss was incurred following the cancellation of series against India.

The document revealed that the PCB suffered a major loss of 47.22 million dollars when India refused to visit the country in the wake of the Mumbai attacks, The Dawn reports.

It was also denied 39.22 million dollars, which would have been the cost of TV rights for the Indian series, while the damages caused due to loss of sponsorship is estimated at around five million dollars.

In addition to that, the PCB, which is already reeling under a financial crisis, incurred a loss of another two million after being stripped off as hosts for the 2011 World Cup.

Pakistan was one of the four hosts of the 2011 World Cup, but later the ICC shifted all the games to the other three host nations, India, Sri Lanka and Bangladesh after several foreign team expressed their reluctance to visit the troubled nation. (ANI)