NEW DELHI (AFP) - Cricket's multi-million dollar Twenty20 Champions League has been postponed, an Indian official said on Friday, amid reports of wrangling over terms and conditions. The inaugural football-style League, featuring the top two Twenty20 domestic sides from England, Australia, South Africa, India and possibly Pakistan, was to be held across India between September 30 and October 8. Indian cricket official Lalit Modi, who organised the hugely successful Indian Premier League Twenty20 competition earlier this year, said the Champions League would be held at a later date. "There is no plan to shelve the tournament but the dates will be finalised after the Champions Trophy in Pakistan in September," Modi was quoted as saying in the local media. Modi declined to elaborate, but media reports blamed the delay on disagreements between the participating nations over eligibility, timing and financial terms. The 10-million dollar event was to take place in the short 11-day gap between the Champions Trophy final in Pakistan on September 28 and the first Test between Australia and India in Bangalore from October 9. Cricket Australia, tasked with finalising the playing conditions of the Champions League, was reportedly unhappy that the dates clashed with Australia's only warm-up match on the Indian tour before the first Test.India's demand for a 50 percent financial stake in the League was also opposed by other nations, reports said. India also insisted that English counties that fielded players signed up with the unauthorised Indian Cricket League would not be allowed to take part in the Champions League.The Indian board does not recognise the ICL, which was started last year by Zee Telefilms, India's leading listed media house, under the chairmanship of former World Cup winning captain Kapil Dev. At least two of the four English counties due to play in the semi-finals of the domestic Twenty20 Cup on Saturday feature ICL players. England has said it cannot bar ICL players, fearing legal action over restraint of trade.