New Zealand Rugby Union chief executive Steve Tew told Fairfax Media yesterday negotiations with private investors over gaining a licence with the Highlanders were well advanced.
A deal was expected to be signed off within the next three months.
The Highlanders are the last of the five New Zealand franchises to get private licensing agreements.
The national union decided to delay the process with the southern franchise until it got its house in order.
Tew, who was speaking after a board meeting, said he envisioned the new licence being agreed before the World Cup, which kicks off in mid-September, and in place for next season.
''We're now well advanced with one consortium and hopefully those discussions will progress over the next few weeks,'' Tew told Fairfax.
''If that is concluded successfully then hopefully we'll be in a position before Rugby World Cup to make some announcements about that.
''We made a very deliberate decision with the [financial] challenges the Highlanders, Otago and Southland faced at the time we put the other licences out. We decided we'd leave them until they were in better shape and we've been working with them.
''They've been working hard and we think now is a good time to do it. We've got some good interest and we're now negotiating with one consortium.''
The Highlanders were linked with Singapore-based businessman Eric Series earlier in the year with the possibility of some games being played in Asia.
Private investors get to market games and keep the gate money and some sponsorship income, with the union paying players and keeping the broadcast income.
Tew admitted private investment could be challenging, pointing to the stand-off at the Blues where the board is split over the future of coach John Kirwan.
''We are always learning. There's no doubt about that.
''All of them are slightly different and there's a reasonably public one going through some challenges as we speak, so we've taken that on board and will build that into the licence we're hoping to issue down there.''