Gareth Bale, Ryan Giggs, Craig Bellamy and Aaron Ramsey are believed to be on coach Stuart Pearce's 80-man list of potential candidates for the final squad, which is due to be announced next month.
Yet their participation does not just depend on whether Pearce selects them or not.
It would also require the quartet to go against the wishes of the Welsh FA who, like their Scottish and Northern Irish counterparts, would prefer the British team to be exclusively English, even if they have no legal right to make such a demand.
However, given the opportunity, Savage knows exactly what he would do.
"I would have played, there is no question about that," he said.
"It is a great opportunity for anyone who is selected, a chance to pit yourself against the very best players in the world.
"Lionel Messi won it last time. If it is good enough for him, it is good enough for our players."
A proud Welshman, who won 39 caps for his country, Savage accepts it would be strange to see a British team in competition.
However, he does not see why it would be any more difficult than it is for a Premier League club, who often have several different nationalities in their squads.
"If you play for Manchester United or Arsenal, you might have Scottish or Welsh players there, so what is the difference," he said.
"Let's face it, whilst I think Wales are improving as a team, the chances of someone like Gareth Bale playing at a World Cup or a European Championship are extremely limited. To do it at home, non-existent.
"It is a fantastic chance, and one they should take."
Indeed, Savage believes it is essential if the Welsh public are to get behind the British squad, whose women play New Zealand and Cameroon at the Millennium Stadium before the men's side tackle Uruguay.
"It has to be a British team," said Savage.
"Whatever competition you are in, you want the best players to be involved.
"No one could argue Gareth Bale wasn't one of them, so there should be Welsh involvement."