Former K-1 champ and competitor Alistair Overeem

By FCF Staff

After months of speculation as to what the future holds for the financially strapped K-1 organization, reports have surfaced stating that not only has the long standing, kickboxing promotion acquired new investors, the company will be re-vamped and re-launched in 2012.

According to a report from Liverkick.com, the China based Seven Star Entertainment Fund has acquired a controlling interest in the company, which will be re-launched as the Federation International K-1 Association next year.

Seven Star has reportedly acquired a 60% stake in the new organization, however, aside from K-1 founder Kazuyoshi Ishii, who the remaining partners are hasn’t been disclosed.

The report goes on to say that FIKA’s headquarters will be situated in Hong Kong, and that the new company will promote a K-1 World Grand Prix in 2012.

The new ‘World Cup’’ like format will reportedly include national teams from 32 different countries, and will feature competitors in the lightweight (63kg / 139 lbs.), middleweight (70kg / 154 lbs.) and heavyweight divisions  (100kg /220 lbs.)

Qualifying action for the world tournament is expected to get underway in April.