A day after his 46th birthday, reports have emerged that spin king Shane Warne is contemplating a return to the KFC Big Bash League with the Melbourne Stars.

The unlikely move from the commentary box back to the dressing room for Melbourne's favourite son would go some way to filling the leadership void created by former Test skipper Michael Clarke's absence.

Having announced his retirement from Test cricket in an interview with Warne on the Trent Bridge outfield as Australia surrendered the Ashes, Clarke then pulled out of the first year of his two-year deal with the Stars.

Quick Single: Clarke opts out of BBL|05

Physically, emotionally and mentally drained from the rigours of captaining Australia, Clarke is taking an extended break from cricket while his wife Kyly is pregnant with their first child.

Intriguingly, Warne earlier this week tweeted: "Hopefully will have some exciting cricket news for you this week".

He has yet to announce further details but that tweet is understood to centre more around his plan to launch a T20 "all-stars league" in partnership with Sachin Tendulkar.

Watch: the best of Shane Warne in BBL|01

Warne has not bowled a competitive ball since last year's Lord's bicentary charity match – an event that did not end well for him when a Brett Lee full toss broke his hand, preventing him from bowling.

"There has been no formal approach made to Shane Warne to return to the Stars for BBL|05 in a playing or captaining capacity," a Stars spokeswoman said tonight.

"Shane Warne has been a friend of the Melbourne Stars since inception, but at this stage has no formal role with the club."

The Stars lost skipper Cameron White to cross-town rivals the Melbourne Renegades before securing Clarke amid much fanfare, and News Corp reports Warne is open to reprising his playing days.

It is understood David Hussey will take over the Stars captaincy. Hussey had been nominated by club president Eddie McGuire back in April to lead the club when Clarke was expected to be absent on Test duty. He is now favourite to officially be confirmed in that role full-time.

Clarke had been due to wear No.23 for the Stars, saying the number had been passed down to him from Warne, who himself took it in homage to legendary basketballer Michael Jordan.

Watch: Shane Warne's top 10 Test moments

Warne has maintained close ties with the franchise since he finished up in BBL|02 and coming out of retirement would reunite him with good friend Kevin Pietersen, who is set to return this year for a second stint in the Big Bash.

It would also, pleasingly for Australia's spin stocks, put Warne in the same dressing room with rising leg-spinner Adam Zampa, who joined the Stars earlier this year from the Adelaide Strikers.

While a BBL remain remains fanciful at best, Warne is thought to be close to finalising details of his planned T20 all-stars league in partnership with Indian legend Tendulkar.

The pair are understood to be headlining a venture that would see retired cricketers paid up to US$25,000 per match with matches scheduled in New York, Los Angeles and Chicago. The initial reports in May suggested these matches would take place in September but as yet there has been no official confirmation.