The announcement of an alternative world snooker tour yesterday threatened to split the sport. The Sports Masters Network (TSN) company, which manages over 40 of the world's top players, announced its intention to organise the new circuit.

According to the organisers, the new series will involve a minimum of 10 events and include overseas tournaments in Europe and the Far East next year. "Venues have not been decided yet. Ireland could be a possibility," said a spokesperson for TSN.

The company, which represents Ken Doherty, Stephen Hendry, Ronnie O'Sullivan and world number one Mark Williams, claims that the prizemoney will increase by 40 per cent and that a £10 million investment has already been agreed with venture capitalist Warburg Pincus.

The jewel in the crown of the new circuit will be the reintroduction of a World Cup, last played for four years ago. It is also hoped to stage feeder tournaments for each major tour event.

But the TSN proposals have not received the backing of the World Snooker Association (WSA), who said the game was safe in their hands. WSA chief executive Jim McKenzie said: "Myself and the directors of the World Snooker Association have had meetings with TSN and their backers Warburg Pincus. But we have yet to receive any detailed proposals about a new world snooker tour."

The TSN proposals would ditch tobacco sponsorship and seek new backers whom, they say, will be more acceptable to a wider audience and will pre-empt the "complete ban on tobacco sponsorship scheduled for 2003". News of the new tour will send shockwaves through a sport fighting for survival. Of this season's eight ranking tournaments, four are without sponsors. Three others are supported by Imperial Tobacco, including the Embassy World Championship, while the sponsorship of the eighth, the UK Championship, is up for grabs. The deal with Liverpool Victoria expired after last Sunday's final.