Cricket: The inaugural Champions League Twenty20 will be re-scheduled for early 2009 following the terrorist attacks which rocked Mumbai.
According to tournament chairman Lalit Modi, the eight-team event will be rearranged and remain in India.
Middlesex, England's reigning Twenty20 champions, are among the teams due to take part in the multi-million pound extravaganza and they aborted their flight to the sub-continent this morning - they were due to stay in one of the hotels besieged by gunmen yesterday.
However, Modi said: "All the teams wanted to come and start as scheduled at an alternative venue but the Board of Control for Cricket in India could not reschedule at such a short time as the games were due to start next Wednesday.
"The inaugural year will be postponed for a few months but will still be played in India.
"They (the participating teams) were all ready to come today so I don't think they will have a problem coming back."
The decision to postpone was taken by the tournament's governing council after they held discussions with the BCCI, and its fellow stakeholders Cricket Australia and Cricket South Africa.
"It was agreed that in the best interests of all concerned, the inaugural edition of the Champions League Twenty20 should be postponed," said Modi.
"We very strongly condemn this dastardly and heinous criminal act of a few which has resulted in the loss of precious lives and injury to hundreds.
"We offer our heartfelt condolences to the bereaved families and we are with them in their hour of grief."
More than 100 people were killed in the attacks, in which an unspecified number of others were taken hostage, with Britons and Americans said to be specific targets.
Middlesex captain Shaun Udal said: "It's probably a sensible decision to postpone it for now. I don't see any point carrying on with the tournament in such circumstances.
"The atrocities are terrible and you feel for everyone involved. It was surreal watching the pictures last night.
"I know the hotel well, England were based there. It could have been us if we had gone 24 hours earlier. We would have been right in the thick of it. Awful, awful stuff that has been going on.
"There was talk of switching venues but I think the correct decision has been made."
Teams from five countries - England, Australia, South Africa, Pakistan and India - were due to take part in the week-long tournament from December 3rd-10th.
The Champions League was originally scheduled to take place from September 29th-October 8th but was moved to December due to its close proximity to the Champions Trophy, an event which was also later postponed.