The Australian great says changing times mean the plan for 18 tournaments worth US$10 million (AU$14.9m) each featuring 48 leading players could work despite likely opposition from existing tours.

"You've got to remember back in my day the players were looked on a little bit different," Norman told The Scotsman at the final day of the Saudi International on Sunday.

"Seve (Ballesteros), Jose (Maria Olazabal) and I were trying to tell everybody we were independent contractors who could go and play anywhere in the world we want ...

"Restraint of trade is not as prevalent – you can't do it basically in this day and age – so that's why this one probably has a little more legs."

Former World No.1 Norman unveiled plans for a World Golf Tour in 1994 but the concept was squashed by the PGA Tour's then-commissioner Tim Finchem, who threatened to suspend players who took part.

The PGA Tour later established the World Golf Championship (WGC) events, with prize money comparable to the four majors, in order to meet that threat.

Earlier this month, British-based World Golf Group revealed its outline for a global Tour it aims to launch in 2022.

“I had corporate, I had television, but you need 100 percent of the pie to be together before we can bake it.” – Greg Norman

The Premier Golf League (PGL) tournaments, with small fields and no cut, would run over eight months for a total prize pool of US$240m (AU$358.5m).

Norman said the PGL appeared to have the ingredients to succeed.

"It's just a matter of getting all the right components together, whether players stay together," Norman said.

"With my original concept, some players loved it and others didn't like it.

"I had corporate, I had television, but you need 100 percent of the pie to be together before we can bake it.

"From what I'm seeing here, this one has every chance of getting off the ground."

PGL organisers have yet to reveal their plans for all-important broadcast rights but Norman suggested they could turn to streaming giants.

"I was just live streaming the Australian Open tennis before I came to speak to you," Norman said.

"Everybody is out for this real time, 5G, 6G, instantaneous coverage.

"Why not stream golf on Apple, why not on Amazon? Get out of the box.

"There are opportunities out there that are far greater than even I could have contemplated back in my day."

Norman said he'd heard whispers the PGL proposal could possibly trigger a merger of the PGA Tour and European Tour to create a world Tour.