A new tournament which hopes to attract 16 of the world's most elite fighters with a total prize fund of 50 million US dollars has been launched.
The newly-founded Comosa AG aims to carry out an annual competition featuring two as-yet unconfirmed weight classes, featuring eight boxers each in a shootout format.
It is hoped the quarter-finals of the inaugural World Boxing Super Series can be held as early as September and October this year, with the semis planned for next January and February.
The division deciders have been pencilled in for next May, when the winners will collect the Muhammad Ali Trophy, named in honour of the former three-time heavyweight champion who died last year.
Roberto Dalmiglio, Comosa's head of management board, said: "The World Boxing Super Series will change the world of boxing.
"The tournament will set new standards, ensure coherent storylines and provide top-class boxing throughout the year. It is Comosa's ambition to turn the World Boxing Super Series into the world's biggest and best boxing tournament."
The pioneering project has similarities to the Super Six World Boxing Classic, held between 2009 and 2011 in the super-middleweight division which saw Andre Ward emerge triumphant after defeating Carl Froch in the final.
However, the format of that tournament had to be adjusted and was hampered by the withdrawal of several participants.
German-based promoter Kalle Sauerland helped to stage the Super Six and his company has been named as one of Comosa's principal owners.
Former Golden Boy promotions chief executive Richard Schaefer is Comosa's chairman of the Americas, and he said: "I have been involved in the sport for a long time and boxing has really been missing a big tournament like the World Boxing Super Series. Every major sport has one.
"This is a fascinating project and I am thrilled to be involved. The quality of the people behind this tournament ensures it will be a success."
The weight classes for the maiden season of the venture will be announced at a draft gala in June, when the top four fighters from each division, who will be seeded, get to choose their quarter-final foes.