U.S. Soccer has invited South America’s 10 soccer federations to bring their national teams to the United States in 2020 for a new intercontinental championship that would run concurrently with that summer’s European Championship.

The offer, a package that includes almost $200 million in guarantees to the invited teams and their governing bodies, was made Tuesday in a letter from U.S. Soccer’s president, Carlos Cordeiro, to his counterparts at the 10 South American federations. For the past year, soccer officials across the Americas have held discussions about creating a quadrennial tournament involving national teams from both continents, but with no agreement in sight, U.S. Soccer, eager to fill a gap in the global soccer calendar and bearing an enticing nine-figure offer, is now proposing to establish its own.

In the letter, Cordeiro said U.S. Soccer was offering to underwrite the new event and guarantee each nation — and both confederations — millions of dollars in appearance fees, subsidized travel and bonuses for each point earned. The champions could take home a prize of more than $11 million. Cordeiro has invited the South Americans to a meeting to discuss the proposal next week in Miami.

The proposed 16-team tournament would resemble, in structure though most likely not in name, the 2016 Copa América Centenario. That tournament, a relocated version of the South American championship — expanded to celebrate the event’s 100th anniversary — brought the 10 members of the South American confederation, Conmebol, to the United States for a month to face off not only against one another, but also a half-dozen opponents from Concacaf, the regional confederation made up of North and Central America and the Caribbean.