The governing body have believe the series has provided the foundations for the road to an Olympic and Paralympic Games over its nine year history, but claim the new format provides a renewed vision of the competition.

“The Sailing World Cup Series will continue to showcase and develop Olympic Sailing, it will be a key part of a sailor's Olympic campaign, integrate Para World Sailing, help create heroes and engage sailing sports fans, excite sponsors and broadcasters and conclude with a Final at which the winners in each event are crowned,” the vision statement read.

Miami, which has been an existing Sailing World Cup host, has been awarded a series round each January from 2017, through until 2020.

The 2017 round in the American city will be shortened, with World Sailing stating it will help allow for a switchover to a new calendar.

Hyeres in France will then host a World Cup in April, before the shortened series draws to a conclusion with a European Final in either late June or early July in 2017.

Sailors who have attended the 2016 Sailing World Cup Final in Melbourne will automatically qualify for the 2017 edition of the series, with remaining places then being awarded via World Sailing rankings.

Future editions of the series will then run from October to July every year, incorporating three rounds and a European Final at the end of June or early July.

Japan will host the opening World Cup round from 2017 to 2019, with their event due to be held in Ocotber.

Miami will then follow in January, while Hyeres will host a European round in May 2018 during the first year of the revamped series, before a European Final follows.

Bids are being welcomed to stage a European round for the 2018/19 and the 2019/20 series, as well as the European Finals in both 2018 and 2019.

The 2020 final has already been awarded to Japan, with the event scheduled to take place in July, just weeks before the Tokyo 2020 Olympic Games.

“After Rio 2016, a clear vision is required for the Sailing World Cup to capitalise on the success of one of the most thrilling Olympic Sailing competitions in recent history,” said Andy Hunt, World Sailing chief executive.

"We now aim to develop a sustainable, long term, annual elite series that supports an Olympic campaign, drives our commercial and sponsorship activities and takes the sport to thriving venues with world famous sailing conditions.”

Qualification regattas for the 2017/18 season are set to be announced by the end of October 2016.

For sailors to qualify for the Sailing World Cup Final, they will have to commit to the full series under the format.

Cities in Europe are being invited to bid to host the Final, with the bidding document available here here.