Cricket South Africa's (CSA) director of cricket Graeme Smith believes there is a "very good chance" the T20 World Cup will go ahead early in 2021.

The event, which is scheduled to take place in Australia between October 18 and November 15 this year, remains in doubt due to the ongoing coronavirus pandemic.

Smith says the Proteas are preparing for all eventualities.

"If it does get postponed, we're looking at February or March next year," he told reporters on Thursday.

"We are consistently looking at strategies for tours, what the FTP [Future Tours Programme] looks like, what our focus is going to be over the next period of time.

"We'll have to assess players on form, as was always going to be the case. When that event comes around, we will look at what the best squad is that we could possibly send to give us an opportunity to win the trophy.

"I think the key at the moment, across the board from players to coaches and operational staff, is to try and make sure that we're ready for when the opportunity arises to play cricket again and then we'll have to assess players quickly.

"The hope was that we would have 14 T20 games before the World Cup in October and that's not going to happen anymore. There is a very good chance it's going to be shifted into the beginning of next year, so we'll have to consistently assess.

"There are so many things up in the air, so the key is just to be ready."

CSA CEO Jacques Faul believes delaying the tournament would not necessarily have a huge financial impact.

"The T20 World Cups gets sold and the money is essentially distributed to the members," he said. 

"I don't think a delay in the tournament would lead to a cut of that funding. As long as it takes place within the same financial year, then it should be fine. 

"If it doesn't take place or if it is delayed for a longer period, then it would have an impact."