The International Cricket Council (ICC) and the Pakistan Cricket Board (PCB) have reached agreement over compensation in order to end to a dispute relating to hosting rights for the 2011 World Cup.

Earlier this year, Pakistan was stripped of the 14 matches it was due to stage at the tournament following a terrorist attack on the Sri Lanka cricket team in Lahore. The tournament will now be co-hosted by India, Bangladesh and Sri Lanka. The PCB has now agreed to withdraw legal proceedings against the ICC as a result of the decision after striking a deal that will see Pakistan retain its hosting fees for the tournament, as well as an additional payment to act as compensation.

ICC president David Morgan said: "This resolution is good for world cricket and provides an improved platform for the ICC Cricket World Cup 2011 as we now have a degree of certainty surrounding the event that was not there while the dispute was ongoing." PCB chair Ijaz Butt added: "The PCB is content with the settlement that has been reached. We are able to see this dispute from the other side. We realise also the logistical and administrative difficulties that will be associated with organising our matches in the other three co-host countries."