New Zealand investigating Tri-Nations Twenty20

WELLINGTON (Reuters) - New Zealand Cricket is investigating the possibility of launching a franchise-based Tri-Nations Twenty20 competition with Australia and South Africa.

NZC chief executive Justin Vaughan said on Friday he had been in discussions with counterparts in Australia and South Africa about plans to implement the city-based regional franchise event by 2011.

"While planning is still at a concept stage, it is based on having a number of franchises in an Africa-centred... conference and a similar... conference with an Australasian focus, with the top teams from each conference meeting for the finals," Vaughan said in a statement.

"Gathering a large number of the world's marquee players into a single competition over a compressed timeframe can capture the public imagination and create new audiences for cricket.

"The challenge for the three southern hemisphere boards is to create the stage for that opportunity to be captured in a way which complements international cricket."

Vaughan said the tournament would dovetail with the lucrative IPL Twenty20 tournament in India, allowing international players to appear in both.

"The success of the inaugural IPL season in India is an indication of the demand for regional Twenty20 competitions played at a level immediately below international cricket," Vaughan said.

"Long-term, regional-level Twenty20 could be a format which helps cement cricket as the world's second biggest sport and fuel the development of a bigger pool of elite cricketers."