With former England captain Mike Tindall as its figurehead R360’s plan is for 12 franchises across the world – eight men’s teams and four women’s teams.
The hope is to get the world’s best players competing alongside one another in a global tournament.
Rounds would be staged at a different venue across the world with organisers hoping it will begin next year.
It comes as England revels in a successful Women’s Rugby World Cup triumph while the men’s domestic season began last week having been revamped as The Prem with global giant Red Bull taking a stake in Newcastle.
Baxter feels the best players already have good opportunities in England – with Rugby Football Union (RFU) central contracts for England players bolstering the income they get from their clubs.
“What I think is good is us growing our product here and getting on with what we’re doing,” said Baxter.
“If the Premiership is in a good place, England rugby’s in a good place. If England rugby’s in a good place, rugby in England’s in a good place.
“I think they’ve got great opportunities in playing rugby in this country and doing what we’re doing now.
“I think there’s so much that doesn’t look like it’s in place that I think anyone’s going to take a bit of a gamble with any new rugby competition, aren’t they?
“But I’m not talking to you with someone of knowledge of it.
“None of these conversations have happened as yet. If they start happening, I’m sure we’ll all know about it very, very quickly.”
