The hefty fine is due to the 2009/10 local champions withdrawing from the contest following the first round draw, which had pit them against Alpha United FC from Guyana.
Had the All Saints team withdrawn before the draw was made, they would have been fined EC $20,250 (US $7,500).
In a letter to the CFU Event Co-ordinator Jason Sylvester, Bassa asked that they be allowed to pay the heavy fine over a six-month period while expressing their regrets in not being able to compete in the Champions Cup.
“Bassa Sports Club has been faced with several unfortunate and unexpected challenges since registering for Club Championships,” the letter reads.
“We have spent the last few days doing our endeavour best to address the challenges but they have proven insurmountable. As a result we have been left with no choice but to serve immediate notice of our inability to live up to our registration and participate in the Club Championship.”
Bassa would have tackled the Guyanese powerhouse in an opening match slated to take place from March 9 to 11 in Guyana.
Following the opening leg of the home and away contest, Bassa would have hosted Alpha United from March 18 to 20.
The host club is responsible for specifying which of the three dates would be more ideal.
The host clubs would also have to confirm venue and kick-off time ahead of the contest.
One other local club, LIME Old Road FC, who finished runners-up to Bassa in 2009/10, opted not to take part in the contest, citing a lack of funds and a lack of willingness by Antigua & Barbuda Football Association (ABFA) to assist the club financially.
President of Old Road FC Keithroy Black, however, hinted that the team has been invited to take part in what should be a more lucrative venture and is, instead, looking forward for that.