Australia and South Africa would axe one team each under a potential new 16-team Super Rugby model presented to the Australian Rugby Union board last week.

Another proposed model would see South Africa lose two teams, while yet another model involves expanding the tournament, as the joint venture plots an improved 10-year vision for the lucrative yet unpopular current 18-team competition.

The SANZAAR review, being conducted by consultants Accenture - the same group the Australian Rugby Union commissioned to look into the domestic game's finances earlier this year - is still some months from settling on a preferred structure.

Accenture have just completed a lengthy consultation process with 28 stakeholders, including the 18 current teams, the national unions from Australia, New Zealand, South Africa, Argentina and Japan, plus the host broadcaster from each country.