The International Cricket Council has resolved its dispute with Pakistan after the country was removed as joint hosts of the 2011 World Cup over security concerns.
The agreement was reached at a meeting between ICC president David Morgan and Pakistan Cricket Board (PCB) chairman Ijaz Butt on Thursday, ensuring the PCB would drop its legal challenge after 14 games it had been allocated were shifted to co-hosts India, Bangladesh and Sri Lanka.
The two parties have agreed the PCB will retain its host fees and also receive an additional payment as compensation, said an ICC statement.
"I'm glad we were able to come to an amicable agreement and I believe this is a fair resolution for the PCB and the ICC," Morgan said.
"This resolution is good for world cricket and provides an improved platform for the World Cup as we now have a degree of certainty surrounding the event that was not there while the dispute was ongoing."