Pakistan has reached an out-of-court settlement with the International Cricket Council over the country being stripped of co-hosting rights for the 2011 cricket World Cup, local media reported Friday. Pakistani media reported Friday that Ijaz Butt, chairman of the Pakistan Cricket Board, received authorization from the PCB governing board on Thursday to reach a cash settlement with the ICC.

The amount of the final settlement was not disclosed, reported The News newspaper. Pakistan had already secured a US$10.5 million payment for the 14 games it was initially scheduled to hold before the country was removed as co-host on security grounds.

The ICC's move to remove Pakistan - leaving India, Sri Lanka and Bangladesh as co-hosts - came after last year's terrorist attack on Sri Lanka's test team and security detail in which six policemen and a van driver were killed. Pakistan had considered lobbying to have its game moved to another venue, such as the United Arab Emirates, but that was ruled out by the ICC.