Sydney: The Subhash Chandra-owned Essel Group has confirmed its plans to set up a rival Twenty20 cricket league by including leading players from around the world to participate in the cash-rich event.

After Chandra's ambitious ICL failed to cut much ice post strong opposition from the BCCI, the media magnate is once again trying to make his a foray into the lucrative world of cricket and probably give IPL stiff competition, reported the Sydney Morning Herald.