West Indies legend Clive Lloyd is hopeful the Indian Premier League and the unauthorised Indian Cricket League can eventually sit side by side on the cricket calendar.

The ICL, bankrolled by television giants Zee, has been banned by the Board of Control for Cricket in India while the International Cricket Council have also refused to recognise the Twenty20 league. Several countries have also banned players with links to the ICL from international sides.

"I'm hoping the ICL and IPL will co-exist," said Lloyd, who is also the ICC's cricket committee chairman.

"The IPL and ICL both need to understand their agendas and work accordingly."

ICL officials met with BCCI officials last month in an attempt to settle the issue but talks broke down without reaching an agreement.

The BCCI said they had no plans to engage the ICL in further discussions but Lloyd said talks were the only way to resolve the dispute.

"There's nothing like having a discussion to break the ice," he said.

"Just like the United States president Barack Obama said, 'you have to speak to people'."

Lloyd, who led the West Indies to World Cup triumphs in 1975 and 1979, also underlined Caribbean cricket needed leagues like the IPL and ICL to help regain its status as a premier international force.

"Leagues similar to the IPL and ICL will not only draw young talented players into the national team reckoning, but will also help them with their basics," he added.

"The standard of domestic cricket is poor in the Caribbean. There is a need to bring in leagues like these. They would not only improve the standard of the game but will also help players become experienced at a young age."

On the Stanford Super Series, Lloyd felt the money would have been better spent on developing grass roots cricket.

"We need to make young players understand that it's just not about money," Lloyd insisted.

"Money is there to be earned but they need to learn the basics of the game."