Team India are scheduled to tour England for six white-ball games in 2022.
Virat Kohli and his troops expressed reluctance to take the field in the now-cancelled Manchester Test after their assistant physio Yogesh Parmar contracted the virus on the eve of the game.
See Also: Michael Vaughan says IPL only reason behind cancellation of 5th Test, Aakash Chopra reacts
According to a Daily Mail report, "However, the offer -- designed to help ease a potential shortfall of 40 million pounds in English cricket's already stretched budget -- would be instead of, not as well as, the rescheduled Test. The offer of a rescheduled Test still stands."
The call will be taken only after the approval of broadcasters, who paid 25 million pounds for the rights to the Old Trafford Test and whether they will settle for two evenings' cricket instead of five full days.
"There is also the question of corporate hospitality, tickets, and food and drink, with the potential earnings from a full Test match -- over 10m pounds for the Manchester game -- far in excess of what a pair of T20s could generate," the report added.
Last week, ECB announced the fixtures for the 2022 home summer, as per which, India will be back in England for six white-ball games (three T20Is and three ODIs). The limited-overs series will be played from July 1 to July 14.
Meanwhile, there is still no clarity over the outcome of the Test series, which India led 2-1 before the cancelled game.
While the BCCI, in its statement, talked about an offer made to reschedule the cancelled Test, ECB CEO Tom Harrison rejected it, saying that the proposed rescheduling would be a one-off game rather than a decider for the series.
The ECB has reportedly written to the ICC's Dispute Resolution Committee for deciding the fate of the fifth Test at Old Trafford.
It is worth mentioning here that the ECB are staring at a loss of approximately 40 million pounds, most of it won't be covered if COVID-19 is the reason for cancellation of the game and India will be declared winner of the series by 2-1.
It is learnt that the ECB will push for a forfeiture of the fifth Test which would enable them to claim the compensation from the insurance company and the series result will be considered 2-2.
(With IANS inputs)