The WBC has just made their contribution to the upcoming World Boxing Super Series by adding it’s diamond titles to the loot pile. The winners of both the cruiserweight and super middleweight tournaments will get a large share of $50M in prize money along with the Muhammad Ali trophy and whatever titles they’re able to snag from other participating titlists.

This fancy new belt is just another bonus. The WBC shared its thoughts on the upcoming tournament early this morning on Instagram, posting the following message:

“The World Boxing Council (WBC) will honour the [WBSS] by awarding its prestigious WBC Diamond Belt for both the Cruiserweight as well as the Super-Middleweight tournament. As of today, the inaugural season of the revolutionary bracket-style elimination tournament already features five world champions and three former champions as well as three rising contenders, which has led to an outcry of media and fan approval.

“The WBC Diamond Championship has been created as an honorary championship for the winner of a historic fight between two elite boxers, such as the blockbuster between Floyd Mayweather and Manny Pacquiao. ‘This tournament is all about the best fighting the best,’ said WBC president Mauricio Sulaiman. ‘There will be no easy fight and whoever wins will clearly be recognised as one of the most extraordinary and elite boxer in the sport. Hence, we are proud to put the WBC Diamond Championship on the line, which marks the biggest honour the WBC can grant. The WBC is proud to support and fully embrace the tournament and we look forward to a terrific start at the Gala in Monte Carlo on July 8, joining the greatest icon in boxing Muhammad Ali as the inspiration to all participants.’”

The tournament is expected to begin early this Fall.