India, Jan. 26 -- The Pakistan Cricket Board (PCB) could face a range of penalties from the International Cricket Council (ICC), including the withholding of its revenue, restrictions on future bilateral series, and reduced influence in upcoming multi-nation events, if it opts out of next month's T20 World Cup, officials familiar with the matter said on Sunday.

Officials of the cricket's governing body said that a last-minute withdrawal by Pakistan would constitute a breach of the tournament's participation agreement.

"As a direct consequence, PCB's share of ICC annual revenue [estimated at around $34.5 million], would be withheld," an official said on condition of anonymity. The share forms a part of ICC's $3.2 billion media rights dea...