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I have done everything I said I would do and more
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The $5m winner-takes-all Twenty20 match in Antigua between billionaire Allen Stanford's Super Star XI and South Africa will not be rescheduled.
Stanford announced the cancellation of the 10 November fixture earlier this week because of a scheduling conflict with the West Indies tour to Pakistan.
And he has now rejected an offer from Pakistan to re-arrange the itinerary.
"There is too much uncertainty and too much at stake to move forward with the match at this stage," he said.
Former West Indies fast bowler Wes Hall said Stanford had been "distraught" and "truly hurt" as a result of having to call off the game.
His commitment to cricket remains intact, however, and a second Stanford 20/20 tournament involving the various countries around the Caribbean is to be staged between December 2007 and February 2008.
And South Africa will be invited to play the winners of that competition in mid 2008.
Stanford said, however, that the focus of the Caribbean should now be on hosting next year's ICC World Cup.
"We do not wish to take anything away from that spectacle and its importance to the West Indies people," he commented.
Once the World Cup is over, the Stanford board, including a number of West Indies cricket legends, will reconvene to start planning for the future.
Former West Indies skipper Sir Viv Richards praised Stanford's initiative, which will eventually see $28m invested in Caribbean cricket.
"I am thrilled and extremely pleased to have been involved in something so successful." he said.
"I see children on the street playing cricket - I feel the excitement still filtering throughout the region. It was an amazing thing to be a part of."
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