John Davison has promised to hand control of professional snooker to the players in 15 years' time if they back his bid to prise the game away from Barry Hearn.
The former Olympic athlete has already promised players a guaranteed £16million in prize money as part of his official bid to rival Hearn, who is currently chairman of the World Professional Billiards and Snooker Association, for control of the world game.
Davison, who retired from working in the City last year, also says he is prepared to offer players a larger say in how their sport is run.
Ahead of the official launch of his bid, Davison has already received support from former world champions Stephen Hendry and Peter Ebdon.
Hearn has called a meeting of players for Wednesday when he wants them to back his plans but now Davison has given more details about his rival proposals.
Davison, who represented Great Britain at clay target shooting at the 2000 Sydney Olympics, said: "Having been both a successful athlete and a successful businessman I also really understand the balance that all sports need to achieve between commercial success of a sport and the fact that at the heart of each sport you always have a game that people - grown-ups and children alike - love to play.
"But what I see in snooker is a game that has a huge heritage, is loved by many people but is in decline. It has failed to overcome the loss of tobacco sponsorship, has declining broadcast and sponsorship revenues and limited international presence.
"My team has the skills, experience and credibility to work with the players over the next 15 years to provide a stable base for the game from which it can then grow.
"I just cannot accept that an individual has the right to own an entire sport for ever - in my view a sport is the property of the players and its fans - it amazes me that any one individual can think that he or she has the right to own or control a sport.
"We are offering to work with the players to grow the game, share the profits we make along the way and then hand everything back to players, at which point, aged 59 I will try to retire again."
Hearn has a take-it-or-leave-it offer on the table containing a clause insisting he takes a 51 per cent personal stake in World Snooker.
Although Davison's proposal would see him take a 63 per cent stake, his 15-year tenure would then leave the WPBSA able to make the rights available for tender once more.
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