14 Jan 2009

Pakistan cricket on the verge of bankruptcy

5:33 pm on 14 January 2009

Pakistan cricket is on the verge of bankruptcy and needs concrete efforts to restore its coffers after Australia and India cancelled their tours according to Pakistan Cricket board chairman Ijaz Butt.

India last month refused to send its team to Pakistan amid heightened tensions following the November attacks on Mumbai, which New Delhi has blamed on militants based across the border.

India's tour cancellation cost the Pakistan Cricket Board $70million with Pakistan a virtual no-go zone for foreign teams since the September 11, attacks on the United States in 2001.

The cancellation of India's tour was the third major cricket event called off in Pakistan last year, after Australia refused to tour in March and the ICC postponed August's eight-nation Champions Trophy.