Bellator MMA will crown a new heavyweight champion in 2018 after more than three years since the promotion's last title bout in the division, Bellator president Scott Coker told MMAjunkie.com's John Morgan.

And there's a significant twist: The company plans to stage a blockbuster eight-man heavyweight tournament - the Bellator MMA World Grand Prix 2018 - with the winner earning the vacant title.

"This is going to be something that's iconic for us," Coker said. "Tournaments, traditionally, are kind of the way martial arts contests happen. Now we get to put eight iconic brand names in our sport together over a year, and then whoever wins will be crowned the heavyweight champion."

Heavyweights Fedor Emelianenko, Frank Mir, Matt Mitrione, and Roy Nelson will compete in the tournament, while light heavyweight champion Ryan Bader and other light heavyweights Quinton Jackson, Muhammed Lawal, and Chael Sonnen also confirmed.

"I think there are certain fights that people want to see," Coker said. "Believe me, we're going to have some amazing matchups in this tournament.

"These fights that we're going to put together are something that the fans want to see. These are iconic names, big brands."

The tournament fights will take place throughout 2018, with the final planned for December.