The IAAF advisory board, headed by IAAF president Lamine Diack, will meet in the first week of February to review proposals for a restructured and extended Golden League from 2010.
It is reported that the circuit could be extended from its current six meetings to up to 12, possibly with events taking place outside of Europe, in the US, Middle East and China.
"The actual final composition of the new tour will not be known until the summer at the earliest, once negotiations have revealed who wants to be a part of it," IAAF spokesman Nick Davies told The Associated Press on Tuesday.
The IAAF Council, the federation's decision-making body, will meet in Berlin on March 21-22 to consider final approval for the project.
It is hoped a new expanded Golden League will help showcase the talents of the likes of Usain Bolt and Yelena Isinbayeva globally.
