The long-mooted Premier Golf League (PGL) is set to launch in January 2023 in a move that looks destined to disrupt the existing professional set-up.
The BBC is reporting that the £250million, Formula 1-style circuit is pressing ahead with its plans to shake up the game with a schedule of 18 events, each offering a staggering $20m prize fund.
Of that, it is believed that $4m will go to the winner - a 48% increase on the biggest cheque the PGA Tour currently offers to the winner of its PLAYERS Championship.
The BBC is also reporting that 12 of the 18 events will be staged in the USA, with the PGL also expected to incorporate a team element with "team principals" heading up four-man teams.
It is also thought that the plans could incorporate the women's tours, with 50% of the tour's profits expected to be put back into "the golf community".
Full details of the PGL proposals will be revealed later this week.
The PGL is not to be confused with the Saudi-backed Super Golf League (SGL) which made headlines during last month's US PGA Championship.
Speaking to BBC golf correspondent Iain Carter, Andy Gardiner - the head of the World Golf Group which is behind the PGL - said: "The team is ready to go.
"We've used the last eight months to bring in externals to check through every single piece of the model to make sure the events of the last 12 months with Covid haven't changed our thinking.
"The January 2023 date right now is entirely feasible. We will see how the conversations go with the community that we want to embrace."
Gardiner cast doubt on the legality of players partnering with the PGL being expelled from existing tours such as as the PGA Tour, and said that he believes the concept will revitalise the sport.
"We genuinely believe that this will bring more fans to the game, will make the game as robust as possible for decades to come," he added.
"It will thrill and excite fans, because that's what we are when it comes down to it."