The move, announced at a breakfast event in Melbourne on Boxing Day, followed reports last week that the foundation had failed to deliver a promised 50,000 dollars (39,000 USD) for repair of the devastated cricket ground in the Sri Lankan town of Galle.
Galle is where Warne took his 500th Test wicket in March 2004.
The Sydney Morning Herald said Warne told the celebrity breakfast -- attended by Australia's richest man James Packer and Warne's fellow retiring cricketer Glenn McGrath -- that a promotion at last year's Boxing Day Test for the sale of wristbands had failed to attract much support.
Only 5,000 of the three-dollar wristbands had been sold, he reportedly said.
That information was conveyed to Galle International Cricket Club this year but more than five months after the foundation had promised in an email that the fund-raiser would net 50,000 dollars for the reconstruction of the ground, the newspaper said.
The foundation's then chief executive Brad Grapsas tol