The MCC today confirmed it has explored the possibility of joining a consortium looking to buy an IPL franchise.
The club, based at Lord's, has held talks with a group of investors who are interested in buying one of the two franchises up for grabs.
MCC chief executive Keith Bradshaw and club trustee Anthony Wreford travelled to India over the weekend to meet consortium members and IPL officials and have since set up a working committee to consider the findings.
MCC's involvement in the IPL would mark a radical departure from their traditional values, but Bradshaw insisted Test cricket would remain their priority.
He said: "MCC has a proud history, is respectful of the game's traditions and always mindful of its role as guardian of the laws and spirit of cricket.
"We would not pursue a path that we believed was contrary to the best interests of the sport or to the future health of Test match cricket.
"Undeniably, the game is changing. MCC, as an innovative, independent cricket club, wants to be at the heart of that change.
"The concept of MCC involvement in the IPL is something I believe is worthy of thorough investigation, and something that we'll take to our committee for their deliberation."
The two new franchises are due to be added on March 8.