The governing body claims that the addition of this third level of collective events will provide fans worldwide with even more access to top quality badminton.

Along with major events such as the World Championships, World Senior Championships and the Surdiman Cup, the 11-event Grand Prix Gold tour will supplement the World Superseries tour and will see the sport's top names competing in more high-level events throughout the year.

The BWF also claimed the Gold series will be subject to greater media coverage and live broadcasting through the governing body's partnership with media partner IMG Media, which will be on board for the new 2014 to 2017 competition cycle.

As part of the media partnership, fans will have access to live badminton through the BWF's online content channel BadmintonWorld.TV and via rights-holding broadcasters in countries worldwide.

"We are responding to the badminton's public's call for more live action and we are confident they will enjoy the Grand Prix Gold in the same way that they have our other products – the major events and the World Superseries," said BWF President Poul-Erik Høyer.

"What we have done is created a new circuit which will have shared media rights and a collective identity to which fans can relate.

"Our aim is to improve the quality and quantity of television production across the Grand Prix Gold landscape.

"Previously, some tournaments had individual broadcast contracts for domestic and, in some instances, international broadcast while others had none."

Chinese superstar Lin Dan could be in action during next year's Grand Prix Gold series © Getty Images