England to launch IPL rival in 2010

London: England is to launch a tournament to rival the Indian Premier League (IPL) jointly with an American billionaire who said Twenty20 cricket could replace football as the world's top sport, it was announced on Friday.

David Collier, chief executive of the England and Wales Cricket Board (ECB), said the tournament, to be bankrolled by Antigua-based Texan billionaire Allen Stanford, will kick off in 2010 because of commitments in 2009.

"We've had some very positive and constructive discussions with Sir Allen during the last week. I think Sir Allen has certainly mentioned 2010 and I think that's the more likely [date]," Collier said.

Team sport

However, the representative for England's cricketers - shut out of the IPL by their bosses - warned that an English Premier League would need the agreement of India, "because that is where the money is."

Standford said that Twenty20 could upstage football as the world's favourite sport and be worth £500 million.

"Twenty20 has the potential to be the most popular team sport in the world in maybe less than 10 years. But it's going to take a highly organised efficient management team to run it," he said.