India will participate in next month’s Champions Trophy in England and Wales, the country’s cricket board (BCCI) said after a special general meeting on Sunday.
Holders India did not submit a squad for the one-day international tournament by an April 25 deadline after the BCCI failed in a bid to halt a new revenue model being adopted by the International Cricket Council (ICC).
The Indian board approved the country's participation in the tournament, ending speculation about the team staying away from the tournament because of a financial dispute with the ICC.
The Press Trust of India news agency reported on Sunday that the Indian squad will be announced in the next two days.
The PTI said that the decision to allow India to defend its title was made at the special general meeting of the BCCI.
Objections to new revenue model
The BCCI delayed naming the Indian team because of its objections that a new ICC financial formula hurts India’s interests by reducing its revenues from $570 million to $293 million for the period 2016-23. Reportedly, the ICC has offered India another $100 million but that is yet to be accepted by the BCCI.
All seven of the other teams taking part in the tournament were announced by the April 25 deadline: England, New Zealand, Pakistan, South Africa, Australia, Sri Lanka, and Bangladesh.
The tournament begins in Britain on June 1.
Last week, a committee of administrators appointed by India’s Supreme Court to reform Indian cricket following the Indian Premier League corruption scandal ordered the Indian cricket board to name a team.
The committee told the BCCI that the team could be submitted to the ICC without prejudice to its legal rights.
On Sunday, the PTI said two BCCI officials, Amitabh Chaudhary and Rahul Johri, will negotiate with the ICC to resolve the financial dispute.