Pakistan board fails to pay cricketers' match fees

[daredevil]

Looks like PCB is going bankrupt.

Pakistan board fails to pay cricketers' match fees
IANS

RUN OUT: Pakistan Cricet Board has run out of cash and is striving to cope with huge losses say sources
Karachi: The financial crisis in the Pakistan Cricket Board (PCB) seems to have deepened to the extent that it is yet to pay the match fees and bonuses to the players who featured in last month's four-nation Twenty20 tournament in Canada.
Sources in the PCB said that the board will take some more time before paying the players as it is facing a cash flow shortage because of the cancellation of a major home series against Australia and the postponement of the Champions Trophy.
The PCB lost millions of dollars after Australia refused to tour Pakistan in March-April this year, citing security concerns.
The board reported even bigger losses later when the International Cricket Council (ICC) was forced to postpone the eight-nation Champions Trophy which was supposed to be played in Pakistan in September 2008 after five of the competing teams refused to travel to Pakistan because of security apprehensions.
The board is now waiting for the sale of TV and media rights for the next five years. The PCB is expecting to sell the rights for around $110 million. The deal is likely to be completed within the next couple of weeks.
The PCB is also awaiting the revenue-generating home series against India scheduled for January-February next year.
Normally, the board pays the players' share from a series or tournament within a few days after the events but this time it has failed to pay them even though the Toronto quadrangular ended almost seven weeks back. Pakistan lost to Sri Lanka in the final of the event.