Last week, the International Cricket Council (ICC) approved a new financial system which drastically reduced the BCCI's revenue share. This has led to much heart burning among BCCI officials who are contemplating a pull out from the Champions Trophy scheduled to be held from June 1 to 18 in England and Wales.
"We would be duty bound to bring such decision to the attention of the Hon'ble Supreme Court, communicate our views to the Hon'ble Supreme Court and seek its intervention in the matter as also to take such other steps that we consider necessary to protect the interests of Indian cricket," a letter for COA said.
The letter also informed the members that the ICC may be ready to renegotiate but the Indian board's demand for US$ 570 million as share won't be accepted by the global body.
The COA also blammed the BCCI for the turn of the events, asserting that the board could have avoided the situation if it had abided by the resolutions passed during the SGM on April 18.
"We believe that the outcome of the ICC Board meetings held in Dubai during the last week of April 2017 could have been avoided if the resolutions passed during the Special General Meeting held on April 18, 2017, had authorised the Acting Secretary to arrive at a negotiated outcome (within certain parameters akin to those set out during an earlier Special General Meeting held on February 19, 2016) instead of directing him to either seek deferment of a vote and, if that was not agreed to by the ICC and other cricket boards, vote against the revised ICC governance structure and revised financial model," the letter said.
"In fact, we had communicated our apprehension regarding the lack of flexibility available to the Acting Secretary to negotiate when we met him on April 21, 2017," it added.
The COA also urged the board to continue negotiation with the ICC in the interest of Indian cricket.
"It is extremely unlikely that the ICC and other cricket boards will agree to the amount/ share envisaged under the financial model that was put in place in 2014. The ICC and other cricket boards will certainly agree to an amount/ share that is higher than what is envisaged under the revised financial model," it added.
"It is in the interests of Indian cricket for the BCCI to continue negotiations with the ICC and other cricket boards to arrive at an amount/ share that is somewhere between that envisaged under the financial model that was put in place in 2014 and that which is envisaged under the revised financial model."
"An audio recording of the Special General Meeting of the Members of BCCI held on February 19, 2016, reveals that there was a recognition that the BCCI should work in a collaborative framework with ICC and negotiate a lower amount that is acceptable to all. BCCI should continue to adopt this approach in its negotiations with ICC.
"Specific details of the maximum reduction in the amount/ share that the then President and Secretary of the BCCI were authorized to negotiate and agree were verbally agreed although the same does not find mention in the minutes of the said Special General Meeting," it added.
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