England and Wales Cricket Board chief executive David Collier confirmed that the ECB is on course to create its own version of the Indian Premier League by the year 2010.
With a blaze of public and player interest as well as large amounts of money flooding the IPL the talk of a domestic equivalent in England has become a hot topic in recent days.
American billionaire Sir Allen Stanford has spoken of his belief that cricket could become the world's dominant team sport, while also offering to invest heavily in an ECB-sponsored initiative to promote the format.
And it now seems the ECB are firming up plans for their own English Premier League with the backing of Stanford.
"We've had some very positive and constructive discussions with Sir Allen during the last week," Collier said.
"I think Sir Allen has certainly mentioned 2010 and I think that's the more likely date. I think we are moving closer to a deal and our discussions are well advanced and we are enthused.
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"I think people tend to forget it is only a week ago today we were in Bangalore for the opening of the IPL and things have happened remarkably quickly during that period."
Currently only Hampshire captain Dimitri Mascarenhas, who does not have an ECB central contract, is taking part in the IPL for the Jaipur-based Rajasthan Royals, skippered by Mascarenhas' former Rose Bowl captain Shane Warne.
But with the huge sums on offer for relatively small time commitments, the fears have grown that players may compromise their international places in pursuit of the big money available in lucrative Twenty20 tournaments.
Stanford has also proposed a £10million winner-takes-all series between an England side and his own West Indies All-Stars XI.
There is not currently a space in the international schedule which would enable England players to take part in the lucrative IPL.
So the series could appease centrally-contracted players while a date is found in the Future Tours Programme as well as the development of an English Premier League.
"The discussions we've had regarding one-off internationals are particularly important," Collier said.
"They are hugely beneficial to the game because they don't add an awful lot to workload and yet they do give the players opportunities to earn large sums of money.
"They also bring large sums of money into county cricket and certainly into grassroots cricket, which is also something dear to Sir Allen's heart.
"We're one of the fastest growing sports in the UK at the moment - there has been a 27% increase in participation - so certainly cricket is on a very upwardly mobile track at the moment."
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