It was also decided that no legal recourse will be taken against the International Cricket Council as per the diktat of the Supreme Court-appointed Committee of Administrators.
The Board of Control for Cricket in India on Sunday cleared the Indian cricket team's participation in next month's ICC Champions Trophy, ending a fortnight-long suspense with a massive climbdown from their initial aggressive stance.
The BCCI made the decision at a Special General Meeting in New Delhi, where it was also announced that the squad for the eight-team event, starting June 1, will be picked on Monday.
It was decided that no legal recourse will be taken against the International Cricket Council as per the diktat of the Supreme Court-appointed Committee of Administrators.
The SGM completely toed the COA instruction of sending the team and not serving any notice to global body, which has nearly halved the BCCI's revenue share and cut down on its executive powers by revamping the controversial 'Big Three' administrative structure.
It was a setback for the ousted Narayanswami Srinivasan faction which was keen to take an aggressive stand. Srinivasan, in fact, joined the discussions via Skype to air his views but didn't take a confrontational stand.
"The outcome of the meeting has been positive. India will participate in the Champions Trophy. There is no pulling out. Tomorrow the squad will be sent to the ICC," IPL governing council member Rajeev Shukla said after the meeting.
"The honorary Secretary (Amitabh Choudhary) has been authorised to renegotiate with ICC as far as the financial model is concerned. There will be no binding on him.
"Our approach should be that of trying to resolve through dialogue rather than being confrontational. There are five six issues regarding revenue and governance model which need to be sorted," Shukla said.
COA head Vinod Rai said he had already informed the players that they were going for the event starting June 1 in England.
"Of course I am relieved that they are playing Champions Trophy. But players always knew they were going. I had spoken personally to Anil Kumble and Virat Kohli that you guys are playing Champions Trophy. I have always said that $100 million more is okay," Rai said.
"India can make up the money by playing bilateral series. They get Rs 45 crore for playing a single match at home," he added after dropping in to attend the IPL Governing Council meeting.
While it is being perceived as a climbdown but Choudhary has made it clear that participation in the Champions Trophy doesn't mean concerns are not there.
"BCCI reserves all legal options against the ICC. Playing in the Champions Trophy does not mean we agree with the ICC Revenue and governance model. Not only revenue share but governance structure is also an issue," Choudhary told newspersons.
However, the former Jharkhand top cop agreed that negotiations should continue.
"The Negotiation process will be an ongoing one before the ICC Annual Conference in June. Other members I spoke to during the April round of meetings are also keen on amicably resolving the matter," Choudhary said.
"The SGM is unanimous on one aspect. Our position as the predominant cricket country shouldn't be diminished. Most ICC members empathise with India. Now renegotiation is a sensitive issue. I wouldn't like to comment on any figures," he said.
Like Shukla, Choudhary also praised COA's role in trying to take all BCCI units on board.
It is learnt that when the discussion on whether to send a notice to ICC took place, one of the West Zone unit official apprised that if Members Participation Agreement is invoked, one needs to give a 30-day notice period to cure the breach but India's first match against Pakistan on June 4 is before the stipulated time.
Asked about Srinivasan's aggressive stance, Choudhary said, "He gave his views as he has an intricate knowledge on ICC issues."
Defending champions India opens it's campaign in the ICC Champions Trophy with a high-voltage clash against arch-rivals Pakistan in Birmingham on June 4.
ICC Champions Trophy schedule:
| Date | Match | Venue | Time |
| June 1 | Group A: England v Bangladesh | Oval, London | 1500 IST |
| June 2 | Group A: Australia v New Zealand | Birmingham | 1500 IST |
| June 3 | Group B: Sri Lanka v South Africa | Oval, London | 1500 IST |
| June 4 | Group B: India v Pakistan | Birmingham | 1500 IST |
| June 5 | Group A: Australia v Bangladesh | Oval, London | 1800 IST |
| June 6 | Group A: England v New Zealand | Cardiff | 1500 IST |
| June 7 | Group B: Pakistan v South Africa | Birmingham | 1800 IST |
| June 8 | Group B: India v Sri Lanka | Oval, London | 1500 IST |
| June 9 | Group A: New Zealand v Bangladesh | Cardiff | 1500 IST |
| June 10 | Group A: England v Australia | Birmingham | 1500 IST |
| June 11 | Group B: India v South Africa | Oval, London | 1500 IST |
| June 12 | Group B: Sri Lanka v Pakistan | Cardiff | 1500 IST |
| June 14 | First semi-final | Cardiff | 1500 IST |
| June 15 | Second semi-final | Birmingham | 1500 IST |
| June 18 | FINAL | Oval, London | 1500 IST |
Image: The Indian team celebrate after winning the ICC Champions Trophy in 2013.
Photograph: Getty Images
