"If the BCCI (Board of Control for Cricket in India) fails to agree to the terms of the MPA, it will of course mean that they could not continue as one of the joint hosts of the ICC Cricket World Cup 2011, thus putting the entire tournament in jeopardy. Having said that, we hope agreement can be reached and that common sense will prevail," he said.

While almost all the other ICC members are ready to sign the MPA -- which covers major ICC events for the period 2007-2015 -- the Indian board announced last week that it would not sign it in its present form.

The MPA lays down guidelines and restrictions that the players must follow, including those that deal with ambush marketing. According to reports, the Indian board has sent a copy of the MPA to Rahul Dravid, the Indian captain, and it will only take a decision once he has responded.

Sonn claimed that the new MPA addresses Indian concerns. "The new MPA is significantly more flexible that the agreements that regulate participation in ICC events through to 2007. In particular, the MPA addresses all areas of concern raised by Indian players ahead of previous ICC events and provides more scope for players and boards to maintain their own interests," he said.

"Six months ago we circulated the MPA for our events from 2007-2015 to our Members for comment and over the subsequent months we have had extensive and fruitful negotiations with many of our Members that have helped us develop the contents of the agreement to suit our mutual needs. It is thus very disappointing that the BCCI has only recently been able to review the agreement and raise its concerns," he added.

The ICC gave the BCCI seven more days (from Tuesday) to notify it of any difficulties it has with the MPA.