The Scottish Rugby Union has expressed interest in hosting the World Cup Sevens in 2013.
Officials at Murrayfield will now work to determine whether to submit a formal bid next month after seven other unions - Argentina, Australia, Brazil, Germany, Hong Kong, Russia and USA - also revealed their intentions to the International Rugby Board.
SRU chief executive Gordon McKie said: “Rugby sevens are very much regarded as the flagship for the global development of our sport - and that gives great pride to us in Scotland given that we gave the game to the world.
“Scottish Rugby hosted the inaugural Rugby World Cup Sevens in 1993 and, of course, Sevens will ensure rugby returns to the Olympic family in time for the summer games in Rio de Janeiro in 2016.
“We are also very proud that Sevens will be one of major sports at the 2014 Commonwealth Games in Glasgow.
“But what will be crucial in our deliberations on whether we submit a formal bid for the 2013 RWC Sevens will be that such a bid must sit alongside our strategic objectives.
“We cannot advance a bid if it were to compromise the overall financial stability of the game in Scotland and hosting such a tournament would be about much more than the event itself.”
McKie added: “It would be vitally important that the legacy from a 2013 RWC Sevens included greater access to quality facilities for the youth of our country and a consequent increase in participation in rugby.
“As part of the exposure for the event we would need to attract a host broadcaster on appropriate commercial terms and, as most sports in Scotland will relate, that is particularly challenging.
“That said, we look forward to working in partnership with government, both at national and local level, and with Scottish broadcasters, as we examine the bid documents.”
The SRU must decide by December 15 whether to proceed with a tender, which must be submitted by mid-February. The IRB will select the host nation in May next year.