Comosa AG announces World Boxing Super Series
Newly founded event promoter Comosa AG has unveiled plans for the World Boxing Super Series, a new elimination tournament which will see 16 of the world's top fighters competing for $50m (£41m) overall.
"It is Comosa's ambition to turn the World Boxing Super Series into the world's biggest and best boxing tournament," said Roberto Dalmiglio, head of management board.
"The World Boxing Super Series will change the world of boxing,"
The event, which could start as soon as September, will see 16 boxers battle in two yet to be determined weight divisions, with eight competing in each.
The winners will receive the Muhammad Ali Trophy, named after the former world heavyweight champion who died last year.
Richard Schaefer, the former Golden Boy promotions chief executive, is among those involved in the venture.
"Boxing has really been missing a big tournament like the World Boxing Super Series. Every major sport has one," said Schaefer.