The tournament will be carried free-to-air by each of the world's national state broadcasters, and it is thought that at least 4.5billion people will watch at least one session of the competition.
Organised by beloved charity tycoon Pink O'Ball, who will himself play, the competition will be sponsored by technology giant Apple. It is considered more looked forward to than Christmas.
Only the world's coolest players are allowed to play. Mark Selby and Neil Robertson have not been invited.
First round (January 1-2, best of 39 frames)
Ronnie O'Sullivan (Eng) v Jimmy White (Eng)
Ding Junhui (Chn) v Ken Doherty (IRELAND)
Fergal O'Brien (IRELAND) v Sunny Akani (Tha)
Davy Morris (IRELAND) v Pink O'Ball (IRELAND)
Semi-finals (January 3-4, best of 41 frames)
Final (January 5-7, best of 59 frames)
What the fans think:
Stephen Hawking: "This is a cracking tournament. If anything, it's almost too good, Clive.
Clive Everton: "It is far more popular and important than the World Championship. Pink Ball is someone I respect."
Kanye West: "I love the Pink Ball Masters, and Pink Ball is a good lad."