Only three of the 13 players originally chosen signed the tour contracts issued by the West Indies Cricket Board (WICB). And the other 10 - including Brian Lara, Chris Gayle and Ramnaresh Sarwan - have now been left out.
West Indies will play two Tests in Sri Lanka, the first starting on 13 July, and take part in a triangular one-day series that also involves India.
The latest development is unlikely to go down well with Sri Lankan cricket officials, who believe the absence of Lara and other star players will affect ticket sales and TV revenue.
Seven players were dropped earlier this year over personal endorsement deals with former sponsors Cable & Wireless.
The deals brought about a major conflict with the team's current sponsors – another telecommunications company, Digicel – putting the WICB at loggerheads with the Players' Association.
The BBC reports that WICB chief executive Roger Brathwaite insisted that they could not afford the latest tour fees "demand" put forward by the players’ association.
“Apart from the guaranteed sponsorship fees of $50,000 there is available, a further $250,000 that can be earned by their performances,” said Brathwaite.
“This incentive fits in perfectly with the board's attempt to move towards a performance based payment structure.”
Each player will also receive match fees of up to $6,300 per Test and up to $3,800 per one-day international appearance.
