Texan businessman Allen Stanford, who lives in Antigua, wants Australia, Sri Lanka, India and South Africa to play.

The tournament would take place in June and last a week.

ICC chief executive Malcolm Speed said members want "to ensure their participation in any such event will benefit as many of the game's stakeholders as possible".

The national boards also want ICC's Future Tours Programme for bilateral series, player workload concerns and the current cap on Twenty20 internationals to be taken into consideration.

The event would feature a knock-out event with the winners facing the Stanford Super Stars, an all-West Indies XI comprising the best players from the inter-island Stanford 20/20 tournament.

Stanford has also announced he is giving West Indies cricket $100m over three years with most of the funding going towards grassroots development.