Former UFC champion Frank Shamrock (Pictures) has signed a one-year, multi-million dollar contract with "The World Fighter," a new mixed martial arts promotion set to debut January 2007, Shamrock confirmed to Sherdog.com Thursday morning.

Shamrock, who called the agreement with The World Fighter a "deal of a lifetime," is slated to fight in Las Vegas on the January pay-per-view card versus a yet-to-be announced opponent.

In addition to main event "super fights," The World Fighter intends to promote tournament-style events pitting 16 fighters per weight class.

Cesar Gracie (Pictures) has been tabbed as the event's matchmaker and he's already signed several fighters, including brothers Nick and Nathan Diaz (Pictures) as well as Jake Shields (Pictures).

Ironically, Shamrock needed just 21 seconds to dispatch Gracie in a Strike Force-promoted contest last March. There had been discussion that the 33-year-old Shamrock would return to Strike Force to face Phil Baroni (Pictures), but with Baroni fighting in PRIDE in October and Shamrock agreeing to terms with TWF that bout now appears unlikely for the near future.

Shamrock, who retired from the UFC after defending his belt against Tito Ortiz (Pictures) in September 1999, said he remains under contract with Strike Force and also is committed to the International Fight League as the head coach. His team, the San Jose Razorclaws, takes to the ring Sept. 23 in Moline, Ill.