The West Indies claim they are in a position to be able to host the tournament, and as a compromise to compensate them for South Africa's refusal to relinquish the 2003 event, a special meeting of the International Cricket Council in Kuala Lumpur in March could agree to dropping to four-year cycle.
The proposal is understood to be in a paper prepared by Ali Bacher, chief executive of the South African Cricket Board and chairman of the ICC's development committee, who met at Lord's on Friday.
The West Indies have negotiated lucrative sponsorship deals and built ties in the United States, raising the prospect of a West Indian World Cup bid to include matches in Miami, Los Angeles and New York as well as the West Indies.
The West Indians' demands surfaced just before ICC's annual meeting at Lord's in July. Pat Rousseau, chairman of the West Indian Board, and Julian Hunte reminded Bacher of the longstanding ICC resolution that when the West Indians had the means they should be allowed to stage the World Cup. Bacher was asked to get South Africa to step aside for the West Indies in 2003 but he politely but firmly refused.
Bacher is believed to have had further discussions with Hunte, a colleague on the ICC's development committee, leading to this paper.
The Malaysia meeting will also consider the idea of a rotating president for the ICC.