The Premier Golf League is planning to launch in January 2023, executive Andy Gardiner told Iain Carter of BBC Sport.
Full details will be announced Wednesday.
"Our business model, you can imagine the number of banks that has been through, it's been done to death," Gardiner said. "We know it inside out and it's literally a case of switching it on."
The PGL is a breakaway circuit aimed at revolutionizing professional golf with lucrative prizes and smaller fields. It's a completely separate venture from the Saudi-backed Super League, which made headlines in May after sending out offers to the PGA TOUR's biggest stars, such as Brooks Koepka and Dustin Johnson.
PGL plans include an 18-tournament schedule - 12 of which are based in the United States - featuring the top 48 golfers in the world. It wouldn't interfere with the four majors or international events like the Ryder Cup.
Each competition would feature a $20-million purse, with $4 million being awarded to the winner. There are also plans to include team events and involve the world's top female players.
Gardiner said there have been no conversations with the PGA TOUR to date, but his organization came close to striking a deal with the European Tour before the two pre-existing circuits announced an alliance for future collaboration.