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Steve Hansen is the World 12s Ambassador for New Zealand. He was New Zealand's World Cup-winning head coach.
World Rugby appears to have killed off a revolutionary 12-a-side competition that was planned for next year.
In September, the World 12s was launched with the organisers promising to generate 250m in income.
World Rugby has decided not to pursue the idea further after consulting with stakeholders.
A spokesperson for World Rugby stated that the priority of the sport was to "promote discussions" about a "harmonious international calendar."
According to the spokesperson, "This position has been endorsed by World Rugby's executive committee and professional gaming committee, which include representatives from both the elite men's or women's rugby game."
Sources at World 12s tell the BBC that they have not yet raised the white flag and are more concerned with the timing of the tournament than the concept.
Rowena Samarasinhe, the tournament's new chief executive, stated that "World 12s has been in constant contact with World Rugby.
"The international calendar presents many challenges. World 12s is a long-term initiative that will continue to grow over time.
"We believe that World 12s can host an August 2022 tournament that includes some of the top players in the game, within the constraints imposed by the current calendar. This will not be affected by fixture clashes at that point."
The World 12s were supported by World Cup-winning coaches Steve Hansen, Jake White and others. They were expected to launch next August in rugby’s equivalent of the Indian Premier League.
The announcement was made without the knowledge of the authorities. However, it is understood that CVC, the capital equity giant with a commercial foothold within the Premiership, United Rugby Championship, and Six Nations, was not consulted. They do not support the venture.
The tournament, which was to be held in England, would take place over three weekends. It will feature 192 of world's top players. Eight franchises were selected via auction.