Board of Control for Cricket in India president Jagmohan Dalmiya denied reports that the International Cricket Council has offered a new package to the Indian board and its players as a last resort towards sorting out the contract row.

"We have not received any proposal from the ICC so far, unless it is in the pipeline. We have received a notice from the ICC which says that IDI (ICC Development International) would hold a teleconference on Friday to decide the participation of the Indian cricket team in the forthcoming World Cup. We have been told that there are two issues before the IDI: whether to allow, or not to allow, the Indian players to take part in the World Cup with amendments made by the players before signing the ICC contract.

"The other is to allow the Indian team to take part in the tournament and take the whole case for arbitration later on if the BCCI gives a commitment to accept arbitration.

"We would naturally opt for the second option if we are asked," Dalmiya told newsmen at a press conference in Delhi on Wednesday evening.

He refused to comment on the Delhi high court's ruling, which directed the Union of India to freeze foreign exchange transactions of the official Indian sponsors in case the ICC initiates action against the Indian players or BCCI.

"I have been advised not to comment as the matter is sub-judice," he said.

Dalmiya also informed that the working committee of the BCCI decided that out of its turnover of Rs one billion, 26 per cent would be shared with the players.

"This amount works out to about Rs 26 crore [260 million] per year. Out of this 13 per cent would be shared with the international players. Out of the remaining 13 per cent, eighty per cent would be shared with those who are playing first class cricket and the remaining 20 per cent would be shared with junior players," he said.

Talking to rediff.com after the press conference, he clarified that the money given to the international players would be inclusive of match fees for one-day internationals and Tests.

"No separate payment would be made to the players for playing. But the players would be allowed to keep their endorsement earnings. The board has nothing to do with them. We are working on the contracts and they should be ready in the next couple of months. This is the highest money offered by any cricket board in the world.

"Earlier, the Australian Cricket Board was offering 25 per cent of its revenue to the players," he claimed.

He explained that income sources from the game would include sponsorship rights, media rights, tour guarantees received from various boards when India tours other countries, guarantee money or share of profits from events organized by the ICC and the Asian Cricket Council, merchandising and licensing rights and guarantee money received from the affiliated units for allotment of international matches.

He clarified that income sources would exclude income on interest and investment, sponsorship of junior cricket, sponsorship of the National Cricket Academy and zonal cricket academies and umpires sponsorship.