World Rugby has delivered a potential death blow to the Sir Steve Hansen-backed World 12s tournament.
After careful consideration and discussion, the global governing body says its stakeholders have rejected the proposal.
The former All Blacks coach has dubbed the concept as the equivalent of cricket's Indian Premier League and organisers hoped for World Rugby's backing, as they prepared to launch the 12-a-side, franchise competition in August.
Like the IPL, playing rosters would be determined by auction and promoters hoped the concept would entice new fans to the game, potentially growing the game in North American and Asian markets, while a women's tournament has also been proposed.
But despite support from Hansen, former NZ Rugby boss Steve Tew and former All Blacks captain Kieran Read, World 12s won't be sanctioned by World Rugby, even with a potential broadcast and sponsorship package expected to reach US$500 million.
"The game's major stakeholders welcome innovative thinking that has the potential to enhance the sport and new concepts are always given full consideration," says a World Rugby spokesperson.
"World Rugby has reflected the views of national unions, international and domestic competitions to the group proposing World 12s, and confirmed that stakeholders do not wish to explore the concept further at this time.
"This is a position endorsed by the World Rugby executive committee and professional game committee, which includes representatives from across the elite men's and women's game.
"The priority for the sport is advancing productive discussions regarding the establishment of a welfare-focused, streamlined and harmonious annual international calendar."
World 12s still believe its concept remains viable and plans to schedule a tournament across three weekends in 2022, featuring 192 of the world's best players.
"We are optimistic that, even within the restrictions posed by the current calendar, World 12s will be able to host a tournament in August 2022 that includes a number of the game's leading players, who will not be impacted by fixture clashes at that time," says chief executive Rowena Samarasinhe.