Each weight class features eight boxers competing in an annual knockout competition with the champion from each weight class taking the Muhammad Ali Trophy, named after the former heavyweight champion Muhammad Ali, and sharing a total prize fund of U.S. $50 million, with winner of each tournament receiving U.S. $10 million[1] These tournaments are a joint venture between Sauerland Promotions and Richard Schaefer under the Comosa AG banner.

[9] All WBA, WBC, WBO, and IBF world champions were eligible to participate in the tournament, as well as all top 15 world-ranked contenders by each of the 4 sanctioning bodies.

[10] In both seasons Comosa has staged a draft gala in Monte Carlo and Moscow, Russia to publicly announce all tournament participants and determine the draw.

During the gala, the four top seeds select their quarter-final opponents from the four unseeded boxers in a live TV show.

The fourth judge can also come into play in the event that a tournament fight ends in a no contest or a no-decision and the three official scorecards do not determine a winner.

The fights were simulated on EA Sports 'Fight Night Champion' video game and feature 8 of the most recognisable heavyweight’s from history.

[27][28][29][30] It was later announced Jake LaMotta would replace Marvin Hagler as Sugar Ray Robinson's semifinalist opponent.