The eight-team competition – the Indian Champions League – is planned to start in Dubai in December.
The officials of the eight-team tournament claim they will soon meet the ICC to get approval.
The organizers are hopeful that great Darren Gough, who is said to have been offered over euro 30,000 will be part of it.
Gough could join former England teammates Adam Hollioake and Graeme Hick in coaching at the event. Both, in documents seen by Express Sport, have offers pending.
Former New Zealand all-rounder Jacob Oram and West Indies legend Desmond Hynes are also set to take charge of teams.
However, Gough – if a deal goes through – will be the highest earner.
Out of favour England international Ravi Bopara, Graham Onions, and Phil Mustard are included in a list of players set to feature in the tournament.
Herschell Gibbs, Jesse Ryder, Kamran Akmal and convicted match-fixer Salman Butt are also said to give committed.
But the competition is so far unsanctioned and players have been warned off featuring by the Federation of International Cricketers’ Association.
In a statement published by ESPN Cricinfo read, “FICA has been advised that the proposed ‘Indian Champions League’ event scheduled to take place in December 2016 is not yet sanctioned.
“Accordingly, players are advised that playing in this event could have negative implications on their careers.
“The event is currently deemed to be disapproved cricket under ICC Regulations.”
The tournament is being set up by the India-based company, the Magpie Group.
A Facebook page suggest the following teams will be competing: Delhi Badshah, Indore Rockets, Mumbai Star, Chennai Warriors, Hyderabad Riders, Bangalore Tigers, Lucknow Superstar and Chandigarh Heroes.