The 16-times World Champion, at the age of 61, will head an all-star line-up including Martin Adams, Andy Fordham, John Lowe, Dennis Priestley, Bob Anderson and Riche Burnett.
It is likely to be a knockout event staged in London at a venue to be finalised, also televised and organised by Modus Darts and Jason Francis who produces a similar format in snooker.
The only stipulation is that each player has to be over 50 and been crowned World Champion in either code.
It is therefore likely that Scottish 1997 World Champion Les Wallace, who returned to action in the recent Modus Live League, is also set to take his place in the line-up. There could also be a comeback opportunity for three-times World Champ John Part.
He has just signed a remarkable 10-year contract extension with Target Darts which will take him into his 70s, almost unheard of in any sport.
Travelling has been the biggest issue for Taylor, but a one-off tournament would certainly get him fired-up again.
In an exclusive interview with Oche four days ago, Taylor admitted he missed the adrenalin rush of playing.
He said: “I still want to play competitively, not on the circuit, but I’ll play exhibitions. I still want to win and I miss that competition.
“I’m not a big watcher of darts because I love playing. Now I just look at it and think I’d love to have a go at Gerwyn Price and Jonny Clayton, because I like them.”
“I lost my hunger four years ago but having seen the concept that MODUS and Snooker Legends have put together and having worked for MODUS Sports for many years on the exhibition circuit I could not resist making a comeback. I cannot wait to hit the practice board and show my old rivals I still have what it takes to win. I dominated the professional tour, maybe I can dominate the seniors too,” said Taylor on the announcement.
In addition, further places will be made available during a ‘Seniors Qualifying School’ which is set to take place later this year before the tournament is provisionally planned for 2022.