Cape Town - English Cricket Board (ECB) chairperson Colin Graves believes the time is right for the sport to launch a new '100-ball' format.
In a decision that has raised eyebrows in the international cricketing community, the ECB are pioneering the new format that will see each innings comprise of 15 regular six-ball overs and one 10-ball over.
In an interview with the BBC, Graves said on Monday that a new-look tournament was set in stone and that it would be financially beneficial to England's county cricketers.
Traditional cricket formats, Graves said, simply weren't popular enough.
"It is not attracting the audiences ... if it was we would not have that issue," Graves said.
"The younger generation, whether you like it or not, are just not attracted to cricket. In all the work, surveys and research we have done, the younger generation want something different.
"They want more excitement, they want it shorter and simpler to understand. Those are the things we have learnt for this new competition and that is what we have to make it."
No date for the new tournament has been confirmed yet.