Lord's will not now host its own Indian Premier League team
Plans to buy into a team in the Indian Premier League and bring matches to Lord's have been abandoned by the MCC.
Two new franchises - costing at least £146m each - are up for grabs in an auction to be held this month.
But in a statement the MCC said its committee had "further decided that its best position lies in a broader relationship with the IPL as a whole."
The third IPL season will be launched in Mumbai on 12 March and will feature Kevin Pietersen and Paul Collingwood.
MCC chief executive Keith Bradshaw and trustee Anthony Wreford had travelled to India to discuss the franchise proposals with potential IPL consortium members.
A small working party reported back to the MCC committee and Bradshaw said that after a "healthy debate", the recommendation not to go ahead with a bid was upheld.
He added: "Having said that, we will continue to discuss other ideas with the IPL and, through their support of the MCC Spirit of Cricket campaign, maintain a close working relationship with them."
The owners of the franchises are expected to be announced on Sunday.
IPL chairman and commissioner Lalit Modi had suggested a Premier League football club might be interested in taking a stake in a franchise.
The third IPL season begins next week and matches will be offered for live free-to-air broadcast after ITV agreed a deal which will see all but one match shown on the company's ITV4 channel.
Bradshaw said: "The world of cricket is fast-changing, and there's no doubt the IPL is going to be a central part of that world for the foreseeable future.
"We will remain in close contact with the IPL to develop mutually beneficial opportunities."
MCC president John Barclay and head of cricket John Stephenson will travel to India next week to attend the IPL opening ceremony in Mumbai.