Cricket Australia will refer its lingering pay dispute with the Australian Cricketers' Association to an industrial umpire if an agreement can't be reached by next week.

The governing body's chief executive James Sutherland issued the ultimatum and also foreshadowed short term contracts to allow series, including the all-important Ashes, to go ahead.

Cricket Australia has presented the ACA with a new proposal to this effect.

"We have today discussed with the ACA in that regard," James Sutherland said at a media conference in Melbourne on Thursday.

"Hopefully ... by early next week we can have this situation resolved."

There had been hopes that an in-principle agreement could be reached between the governing body and the players this week, after weeks of uncertainty and bitter public argument.

But negotiations continue to flounder with the two parties unable to agree on the fundamental matter of revenue sharing.

Sutherland says independent arbitration is the logical next step unless the stalemate is resolved by early next week.

But if not, he favoured independent arbitration as the best method to come up with an agreement which would allow upcoming tours of Bangladesh and India and the home summer Ashes series to go ahead as planned.

Fairfax Media and AAP, More To Come