The four-nation competition would be similar to the British Home Championship, last held in 1984. The FAI are currently holding internal discussions and have been in contact with the IFA, who proposed the idea, and the football associations of England, Scotland and Wales.

However, Steve McClaren's side are expected to opt out, a stance which prompted the invitation to the FAI by Lawrie Sanchez and the IFA.

"I don't think England would partake, as their getting beaten by Northern Ireland leaves the manager's job on the line."

said Sanchez.

"It's considered a disaster to lose to ourselves. So if England don't want to take part, we could have a Celtic league with an invitation to the Republic. It would be a good competition."

The FAI are cautiously favouring the tournament, as are Northern Ireland and Scotland. Wales object and remain a potential stumbling block.

The new-look tournament would replace meaningless friendlies, be held over a twoyear period and could start as soon as August 2008 if agreement is made soon.

An FAI spokesperson said:

"This tournament was mentioned to our CEO John Delaney very recently. No decision has been made yet because he is discussing it internally with manager Steve Staunton and our board members.

"But it's certainly one of the options we're looking at."