PCB to demand USD 70 million as compensation from BCCI

New Delhi [India], Sept. 30 (ANI): The Pakistan Cricket Board (PCB) will be making a demand of USD 70 million as compensation from the Board of Control for Cricket in India (BCCI) for not playing two "home" bilateral series.

As per sources, the PCB is expected to file its claim with the disputes resolution committee of the International Cricket Council (ICC) in a few days.

In 2014, both boards signed a Memorandum of Understanding (MoU) which stated that the two arch-rivals will play six bilateral series between 2015 and 2023.

According to the 2014 agreement, India was scheduled to play six series against Pakistan, four of them were going to be Pakistan's home series.

While the BCCI has repeatedly snubbed Pakistan's request for resumption of ties, the PCB wants the Indian cricket board to honour its commitment under the MoU signed, which is subjected to clearance from the Government of India.

Pakistan was expected to generate bulk of revenue in these eight years from hosting India but since BCCI denied playing the series in wake of tensions between the two countries, the PCB is suffering huge financial losses due to it.

Earlier this year, BCCI rejected the PCB's demand for compensation for not honouring the MoU, saying that the MoU was not binding and also raised the issue of security problems in Pakistan.

In May, the PCB had sent a legal notice to its Indian counterpart for failing to honour the MoU.

The PCB had also demanded compensation close to USD 60 million from the BCCI for not honouring the MoU signed when N. Srinivasan was at the helm of affairs in the Indian board.

Despite not playing a full-fledged bilateral series against Pakistan since the 2008 terror attacks in Mumbai, the arch-rivals have played each other a number of times in the ICC events, with the most recent coming at the 2017 ICC Champions Trophy. Although, Pakistan toured India for a short series in December, 2012. (ANI)