The competition, which will comprise of eight teams from around the world with Amakhosi representing the African continent, will utilize the 2002 World Cup Stadium with each team playing a minimum of three games.

"We have accepted the terms and conditions and have signed the contract," said the club’s managing director Kaizer Motaung.

"We are very proud and excited to have been chosen to participate and represent the African continent."

According to Chiefs brand manager Emy Casaletti-Page, The Naturena-based outfit is still expecting confirmation of the other seven participants.

Casaletti-Page also added that they have been given the names of the clubs that would participate in the competition, but the club would rather wait until the official announcement before disclosing the names.

"I can confirm that some of the clubs will be from England, Italy, Holland, USA and Korea," she added.

"And as far as we know, we are the only African club to be invited."

The club's officials will be traveling to Zurich soon to attend the official launch of the tournament, where all the participating teams will be announced.

The prize money for the winner of the event is US$2 million.

Casaletti-Page also confirmed that Pelepro, Pele's sports marketing company, have secured the rights to manage the event, and the company is finalising all the various details.