Scottish Borders Council will make a renewed attempt to bring the IRB rugby sevens to Melrose in 2008.
It is now hoped the event could come to Melrose in 2008
The region missed out on next year's competition after the Scottish Rugby Union submitted a bid to stage the event at Murrayfield.
SBC leader David Parker said the funding package was still in place to bring the competition to the Borders.
He said he believed that the event could be run "extremely successfully" in Melrose in two years' time.
Mr Parker has previously expressed disappointment at the decision not to include the Borders in the bid for 2007.
He claimed the decision was made because the SRU wanted a "blank cheque" with nobody else having a say in the tournament organisation.
The SRU has said that despite assurances that public bodies would cover any losses it could not rely on those funds.
Mr Parker said it was time to regroup and prepare the case for 2008.
"The SRU have now submitted their bid to the IRB and the IRB have to consider that bid and give a response," he said.
"If they accept the bid then it goes ahead at Murrayfield and we can then look at how it can happen in Melrose in 2008."
He said it was ultimately up to the SRU to decide whether it could work with the Borders bid.
A £2.1m funding package is in place to bring the sevens to Melrose
"The council is totally committed to bringing it to Melrose," said Mr Parker.
"We have put together a funding package with our partners of £2.1m to make it happen.
"It is now really for the SRU to tell us what they want in terms of how they need it to run in Melrose in 2008."
The council leader added that the funding partners were still on board for a bid in two years' time.
"There is no doubt in our mind that we could run the event at Melrose and we could run the event extremely successfully," he said.
"Certainly we now have to try and see what we can do to resurrect it for 2008."