The International Cricket Council faces a 50-million pound compensation claim from its sponsors Global Cricket Corporation, say reports.

GCC, the rights holders for ICC Cricket World Cup and Champions Trophy events till 2007, have asked for a ninth of the 550-million dollars they paid citing breach of contract by teams -- England and New Zealand -- who withdrew from World Cup matches in South Africa and conditional signing of Player Terms by India, The Independent, London, reported on Sunday.

The ICC convenes in London today a week-long annual meeting where the damage claims by the GCC and other issues will be discussed.

The ICC conceded they would have to forfeit some money but were unhappy with larger sections of the GCC's claim, the report said.

The ICC has withheld the guarantee money for the South Africa World Cup, held in February-March this year, due to England, New Zealand and India in anticipation of compensation claims.

The ICC might be in the right to ask England and New Zealand costs after they refused to play in

Zimbabwe and Kenya respectively but any such request might be contested by the Indian cricket board.

The ascendancy of Pakistan's Ehsan Mani as ICC president following the end of the two-year term of Malcolm Gray of Australia might help smoothen the ICC-BCCI relationship which has been stormy at the best.

Mani is known to be close to Jagmohan Dalmiya, the president of the BCCI.

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What do you think about the story? Read what others have to say: Number of User Comments: 1 Sub: Regarding the icc gcc issue As gcc has to bear a 550m pound loss icc should not pull India in that issue. The terms & conditions of the contract were ... Posted by sameer