Blaming it on lack of bilateral series with India, the Pakistan Cricket Board claims to have lost approximately USD 80 million in its broadcasting deal with the Dubai-based Ten Sports that ended last month.
A senior official of the board said that since Pakistan didn't host any home series against India in the four-year broadcasting deal, it lost out on an estimated USD 80 million from its total deal of USD 135 million.
"In our agreement with the broadcasters there was a clear clause that we had to play at least two home series with India in a four year cycle and it would have fetched us an estimated USD 80 to 85 million of the total deal of USD 135 million," the official explained.
"But unfortunately since we have not had any bilateral ties with India at home in this four-year cycle it has cost us a lot revenues," he said.
The official said the tough part was that when the PCB invites bids for a new four-year deal in September, it would face the same problems as in the previous deal.
"Again broadcasters will want to have a escape clause if we don't play India in a home series and it will cost us estimated revenues."
The official explained that broadcasters had no problems in Pakistan hosting its home series against India at a neutral venue because of teams' refusal to come here after the 2009 Lahore terror attack on the Sri Lankan players.
"The issue is that the BCCI is not willing to even play at neutral venues since the Mumbai terror attacks. Political and other relations with India have also badly affected our cricket ties and our revenues," he said.
Pakistan toured India in December for a short one-day series, the first bilateral series between the two countries since 2007.
But since 2008, India has refused to play Pakistan or even in Pakistan and also cancelled a full tour in early 2009.
"To date we have still not got any compensation for that cancelled series from the Indians," the official said.
He said until recently, the PCB had made efforts to convince the Indians to give Pakistan a home series even if it had to be played in India but met with no success although both teams had windows in August.
The court had termed the election process in May as malafide and polluted and suspended Ashraf as Chairman.
"Sethi should continue as interim PCB chairman but must hold elections within 90 days to elect a PCB chairman," the court ordered.
Ashraf was appointed chairman by the PCB patron and the President of Pakistan Asif Ali Zardari in October 2011 under a previous PCB constitution.
But the PCB was forced to introduce a new constitution earlier this year after the ICC ordered an end to all undue government interference.
"We have to clear the mess in our cricket system," Sethi said.
Sources aware of the latest developments said indications were clear that besides holding fresh elections, Sethi intended to have the Constitution vetted by the Law Ministry and inter provincial coordination ministry to review the role of regional associations in the General Body.
"Don't be surprised if you see employees being fired in the near future as the Chairman wants to reorganise the board and its financial matters,"one source said.