The championship among the three full-member countries, India, Pakistan and Sri Lanka is scheduled to be held in February/March next year with each country meeting each other once and the top two sides playing a final.
This championship is expected to be a fore-runner to the Wisden Test cricket championship which the International Cricket Council (ICC) hopes to hold in the next millennium.
Sri Lanka whose turn it is to currently manage the affairs of the ACC with the president, secretary and treasurer of the Cricket Board holding similar posts in the body, will have to decide at the extra-ordinary general meeting of the ACC on October 12 at Kathmandu, what their stand is.
``There is a lot of money at stake. If we don't participate we stand to lose all of them,'' said Cricket Board chief Thilanga Sumathipala.
Each of the three full members stand to receive US$1.5 million as guarantee money and a further US$one million for development.
Sri Lanka's present international commitments till the World Cup in England in May, are all one-day tournaments. They leave for Dhaka later this month to participate in the Wills International tournament termed the mini-World Cup because all nine full member countries are involved. Next month, Sri Lanka go to Sharjah for the three-nation Champions trophy which includes India and Zimbabwe. In January, Sri Lanka travel to Australia to participate as the third team in the World Series Cup with Australia and England.