By James Pearce
BBC sports news correspondent
The British Olympic Association (BOA) is taking its dispute with the organisers of the London 2012 Games to the Court of Arbitration for Sport.
Based in Lausanne, the court is the final adjudicator in disagreements between sporting bodies or individuals.
The BOA feels it deserves a bigger cut from the organisers, Locog, of any surplus generated from the Games.
BOA spokesman Darryl Seibel said: "We have filed a formal petition seeking to resolve this quickly and equitably."
Initially, the IOC had been asked to adjudicate on the dispute. The BOA's decision to take its case to the CAS will further anger many who argue that the harmony around the Olympic project is being jeopardised to protect the organisation's finances.
Last week the BBC revealed that the BOA has a significant funding gap and does not have enough money to support Team GB during the 2012 Games.
The case will centre on whether the BOA is entitled to a share of the surplus from the Olympics alone, or the Games and Paralympics combined.
This is crucial, because the Paralympics will need to be subsidised, whereas the Olympics could turn in a small profit. Locog is the organising committee for both the Olympics and Paralympics.
Lord Coe, the chairman of Locog, told BBC Sport: "This is a technical, narrow dispute and we will resolve it.
IOC intervene in 2012 cash row
"This has no impact at all on the ability of Team GB or Paralympic GB to be competing. You know we have got great momentum across the project and the relationships are very strong and this will be resolved."
And on Wednesday, Locog issued a statement emphasising that the Olympics and Paralympics must be treated together.
"The vision for London 2012, created by the BOA, Government and the Mayor of London and set out in the bid book is for one festival of sport, with an integrated Olympic and Paralympic Games, underpinned by a single budget," the statement read.
"It is sad that this vision is now disputed by the new leadership of the BOA. We are grateful that the IOC is helping to resolve the issue."