The Board of Control for Cricket in Sri Lanka missed last Friday's ICC deadline for the contracts after it failed to come to an agreement with the players over their pay for the tournament.
"We have asked them (the ICC) for some time. We'll have to talk to the players on their return," cricket board chief executive Anura Tennekoon told Reuters on Tuesday.
The Sri Lankans are currently in Australia for a triangular series and Tennekoon said he hoped the dispute could be resolved when the players return early on Thursday morning.
"We are hopeful the players will ultimately compromise and we can come to an agreement," he said.
The state-run Daily News quoted Interim Committee chairman Hemaka Amarasuriya as saying he would prefer to negotiate separately with Sri Lanka captain Sanath Jayasuriya when he returns rather than go through the Sri Lanka Cricketers' Association.
The players have been demanding 20 per cent of the cricket board's guaranteed fee of $6.4 million from the World Cup. The cricket board has said it cannot afford more than 10 per cent plus an incentive fee without jeopardising the development of younger players.
In a separate editorial, the Daily News criticised the team for their failure to qualify for the finals in the one-day tournament in Australia.
"We admire the determination the players have shown in negotiating for more money but we wish they had shown those admirable qualities when facing the likes of Glenn McGrath and Shane Warne," it said.
The 14-team tournament begins in southern Africa on February 8 with the final in Johannesburg on March 23.
