The BCCI has rejected ICC’s revised offer of close to $400 million, up from $290 million under the newly proposed revenue sharing model. The changes were to come as part of the new constitution, which the ICC is trying to put in place without a vote this month. The BCCI is learnt to be seeking deferment of these proceedings to the ICC annual meeting in June.

In the current revenue distribution model, BCCI gets USD 579 million from the ICC. If the proposal, devised by chairman ICC Shashank Manohar, is passed by the ICC, then BCCI’s share comes down drastically to USD 290 million which even the Committee of Administrators (COA) had found unacceptable. The COA has been mandated by the Supreme Court to govern the BCCI, after the Supreme Court, in a landmark judgement, sacked Anurag Thakur and Ajay Shirke as the president and secretary, respectively, of the BCCI on January 2.

It is also reported that the COA is in negotiations with other member nations of ICC in this matter. Led by secretary Amitabh Chaudhary, in a series of meetings in Dubai, the BCCI has proposed cutting the revenue share of Associate Nations Ireland and Afghanistan, in lieu of granting them permanent status is 2019. The BCCI also proposes cutting administrative costs of the ICC, and it argues that these measures will keep everyone’s share intact while allowing BCCI to keep its Big Three share. “We are trying to persuade them that we are not against the others in terms of what they want (revenue share), but they should also reciprocate by understanding that India’s position cannot be harmed. So if the whole thing is kept on hold for some time, then fresh thoughts can be applied,” said a BCCI official.

The Indian board has also not announced its Champions League squad, even though today is the last day. However, a pullout is not expected as a late announcement is allowed under special circumstances. With the Indian squad almost decided, it remains a mere formality and officials are confident that the situation can be defused before things come to a standstill.