World Rugby has outlined its revised proposal for an overhaul of international rugby union, including details of its Nations Championship concept.
The sport's governing body presented its plans to major stakeholders in Dublin on Thursday.
A subsequent statement detailed a "game-changing" new competition, the Nations Championship, which would see promotion and relegation from its three divisions.
World Rugby says the competition would bring a commercial deal with sports marketing company Infront which would guarantee "almost £5billion for investment in the sport over an initial 12-year period".
It added that revisions had been made to a previous proposal in September last year.
There would be no semi-final stage and players would play 11 Nations Championship matches, which would rise to 12 if a team reached the final.
World Rugby promised to work with the International Rugby Players (IRP) and leading figures in the club game on the format, while investing in a Women's Nations Championship.
Following positive meetings with rugby’s major stakeholders in Dublin today, here is the proposed Nations Championship format. pic.twitter.com/7lOzBgHWC7— World Rugby (@WorldRugby) March 14, 2019
Player of the year Johnny Sexton had been among IRP council members who last month raised concerns about reported changes to the international game, including the introduction of a World League.
World Rugby responded then by saying its "commitment to player welfare matters is unwavering".
In Thursday's statement, World Rugby chairman Bill Beaumont said: "I would like to thank my union, competition and player representative colleagues for their candid, constructive and positive contributions.
"There was strong recognition that World Rugby's Nations Championship proposal, based on a true pathway for all, has been developed with great care, extensive evaluation and with the global game at the forefront of our thinking.
"We are encouraged that the format revisions and robust financial model has been well-received."
He added: "As you would expect in an ambitious, complex and multi-stakeholder project, not everyone is in full agreement on the way forward, including the matter of promotion and relegation, but we will continue to engage and consult."
|Lozano ´absolutely ready´ for big transfer amid United links – Martino|
|It would be an honour to coach LeBron and Lakers, admits Kidd|
|De Ligt: We´ll see where I end up|
|Pelicans owner Benson denies team could move to Seattle|
|Eagles ´working toward´ extension for QB Wentz – Roseman|
|Gruden: Carr won´t leave Raiders|
|Ronaldo upbeat over Euro 2020 chances despite back-to-back draws|
|France players had a lot of fun in Iceland rout – Deschamps|
|Day & Mickelson headline star-studded group, Tiger seeking fourth title|
|Ronaldo expects to return within two weeks|
|Sterling demands UEFA makes an example of Montenegro after alleged racist abuse|
|We are equal – Hudson-Odoi slams ´monkey´ chants|
|Barkley hails England´s character after resounding win|
|Federer sails through to fourth round in Miami|
|Southgate ´definitely heard´ racist chants aimed at Rose|
|Under-fire Ashwin defends Buttler ´Mankad´|
|Portugal 1 Serbia 1: Ronaldo injured as Group B favourites draw again|
|Montenegro 1 England 5: Barkley stars as rampant Three Lions hit five again|
|France 4 Iceland 0: Mbappe on target as Les Bleus maintain perfect start|
|Argentina boss Scaloni has no doubts over Messi´s Copa America involvlement|
|Injured Andreescu retires in Miami to put Kontaveit through|
|Mbappe takes Benzema´s France record|
|Ronaldo goes off injured in Portugal´s clash with Serbia|
|A lack of goals? Spain average more than Barca – Luis Enrique|
|Mancini warns Italy that Liechtenstein match could be ´dangerous´|
|Bears and Packers to kick off 100th NFL season|
|Godin proud to make Uruguay history|
|Ashwin ´Mankads´ fuming Buttler to set up Kings XI win|
|Rice, Hudson-Odoi handed first England starts in Montenegro|
|Gronkowski agent leaves door open for return|
|Wolff braced for Ferrari response in Bahrain|
|WWE, films or partying - What next for Gronkowski following retirement?|
|MLB 2019 preview: Five storylines to watch|
|Banega glad to see Monchi back at Sevilla|
|All Blacks captain Read to make Crusaders return|
|Chelsea transfer ban appeal hearing set for April|
|Argentina expect Messi to do everything - Valdano|
|MLB 2019 preview: Five bold predictions for the upcoming season|
|Brain injury charity questions concussion protocol after Schar injury|
|Phelan hoping to continue dual role with United and Mariners|
|Cooley handed Australia coaching role for Ashes|
|Neymar will inspire like Pele, Zico, Romario - father|
|Joelinton committed to Hoffenheim amid Newcastle, Leipzig links|
|SpongeBob, WWE & dancing in the mirror - The best of retiring Gronkowski´s quotes|
|Neymar in PSG contract talks, says father|
|Schalke and USA midfielder McKennie ruptures ankle ligament|
|Thailand 0 Uruguay 4: Vecino helps seal China Cup title|
|Alisson missing Brazil but feels at home at Liverpool|
|Charnley called up to England performance squad|
|Kante focused on Chelsea amid Madrid links|
|Mourinho: Zidane the right man for Real Madrid|
|Skerritt elected president of Cricket West Indies|
|Nike bow out with patchwork Manchester City ´celebration´ shirt|
|Alli believes England can be the best in the world|
|Curry: Surreal that Warriors have won 50 games again|
|LeBron won´t ´cheat the game´ even with Lakers out of playoff contention|
|Inter play better with Lautaro, says Pirlo|
|Zorc knows nothing of United interest in Sancho|
|Not in a million years! - Hornets´ Lamb in disbelief over game-winner|
|Sterling has qualities to be England captain - Southgate|
|Morocco frustrated by Messi´s friendly absence|
|The Australia ball-tampering scandal one year on: Have the batsmen filled the Smith-Warner void?|
|Giants owner: Beckham trade left grandsons crying|
|McGee explains Lakers´ mentality after playoff elimination|
|Emotional Trout addresses Angels team-mates, fans for first time since signing extension|
|Peterson retires after loss to Lipinets|
|Kyrgios continues Miami run, Djokovic battles through|
|Kyrgios produces two underarm serves in Lajovic thrashing|
|Aldridge powers Spurs over Celtics to continue hot streak|
|Leading tight end and Super Bowl star – the numbers behind Gronkowski´s greatness|