The impasse over the venues for this year's Champions Trophy continues, with the Board of Control for Cricket in India yet to sort out contentious issues with the International Cricket Council.

The emergent meeting of the Board's Working Committee, in Delhi on Tuesday, to decide the venues for the multi-nation cricketing extravaganza, failed to arrive at a decision, with the controversy over bungling of funds by the previous regime taking center stage.

However, BCCI treasurer N Srinivasan said the Board is hopeful of sorting out the issue soon.

"The BCCI is close to finalising issues with ICC [Images]. The president has been authorised to finalise the venues. There are additional costs and other matters related to it (which need to be sorted out). We are hopeful that the matters would get resolved shortly," he told reporters.

India, who have threatened to pull out of the ICC Champions Trophy from 2008 onwards, are on collision course with the ICC over this year's event, to be held in October.

The main point of contention relates to advertising revenue. Under a multi-million dollar agreement between the ICC and the Global Cricket Corporation (GCC), all ICC-owned events have to be contested at "clean" venues where no unofficial sponsorship can be permitted.

However, since two of the three earlier proposed venues -- Mumbai and Delhi -- have their own agreements with various corporates, other venues are being assessed to host the event.