A group of Washington D.C. sports and business executives have relaunched mixed martial arts promotion World Series of Fighting as the Professional Fighters League, it was announced Wednesday.
According to a news release, the new league's co-founders include D.C. businessmen Donn Davis, Russ Ramsey and Mark Leschly.
The Washington Post has reported Ted Leonsis, owner of the Washington Capitals, Mystics and Wizards, and members of the Lerner family, owners of the Washington Nationals, are included in the league's investors.
The PFL will make its debut in January 2018, per the release, and feature a new format.
Fighters from seven unidentified weight classes will compete in a 10-month "regular season." At the conclusion of the season, athletes with the best records will enter a "win-or-go-home playoff," with the eventual season winner claiming a $1 million prize.
An additional $3 million in cash prizes will be split up amongst the rest of the field.
The group purchased WSOF's operations and infrastructure earlier this year. According to the release, WSOF has "over 100 professional MMA fighters under contract."
WSOF president Ray Sefo and president of event production Carlos Silva have been retained to continue their roles with PFL. WSOF was founded in 2012.
According to The Washington Post, PFL's plans do include female divisions. Kayla Harrison, a two-time U.S. Olympic gold medalist in judo, is one of the bigger names expected to compete for the new league. The PFL has not detailed its plan regarding WSOF's current champions.