Garry Kasparov is believed to be behind a new £1 million “Golden League-style” chess tournament featuring 10 of the world’s top players .
The No Logo Norway Chess tournament in Stavanger, the Sinquefield Cup in St Louis, and the London Chess Classic will stage three legs of the inaugural Grand Prix event next year.
A fourth stage, possibly in Jakata, is planned for the following year.
Full details are yet to be announced but the tournament was confirmed by Telegraph chess correspondent Malcolm Pein, an International Master and organiser of the London Classic.
Bulgarian grandmaster Veselin Topalov had let the cat out of the bag in comments at the Gibraltar Masters, where he is currently competing.
Reports then followed on Norwegian TV channel TV 2 Norway and on Dagbladet.
It is believed the format will consist of nine rounds. Each tournament will feature ten players, with the top nine by rating invited along with one wild card for the organiser.
The event will be independent of the World Chess Federation (FIDE) and is believed to be fronted by chess legend Kasparov.
Among the other players expected to receive invites are world champion Magnus Carlsen, Fabiano Caruana, Hikaru Nakamura, rising star Wesley So and Anish Giri.
Two elite level tournaments are currently taking place, the Gibraltar Masters featuring Nakamura and Topalov and the GRENKE Chess Classic in Baden-Baden, Germany.