The All India Football Federation (AIFF) and its commercial partner IMG-Reliance are set to launch the Indian Premier League-inspired league in January next year, which will see a mix of some top foreign and Indian players competing on the same platform for over three months.
"I am big cricket fan. I have watched the IPL. It's a great idea, great initiative that should be backed. But whether it works for football, only time will tell. It depends on how it is received. Hopefully, it will get the backing," Pallister said.
The AIFF-IMG's proposal, however, has not gone down well with the I-League clubs, who under I-League Professional Football Clubs Association (IPFCA), have decided not to release their players or take any one associated with the tournament on loan.
Pallister was in the capital in connection with the 'Airtel Rising Stars' soccer talent hunt programme.
Asked about speculations about United's star striker Wayne Rooney's departure from Old Trafford, Pallister was hopeful that the player would stay.
"United will definitely not like to sell him," the 48-year-old added.
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