Pakistan Cricket Board's gesture of goodwill

Karachi, March 15: The Pakistan Cricket Board (PCB) on Wednesday surrendered $250,000 out of their contractual agreement of $750,000. An official of the board admitted that the board had been breaching the contract with its sponsor, Pepsi International.

"We as a gesture of goodwill and to promote good working relationship, the board has decided to surrender $250,000," Zahid Bashir, director marketing, said.

"The ongoing differences between the PCB and Pepsi Cola International over several sponsorship related issues have finally been overcome with mutual satisfaction of both the parties," the sponsors said in a brief statement.

However, Zahid Bashir said a fresh contract will be signed by the board with Pepsi after the present contract expires in September.

He added that the board would finalize the title sponsorship deal in Sharjah during the triangular series. He, however, said deal would be signed at nothing less than $2 million.