Fedor Emelianenko (Pictures) has committed to the Russian-based promotion M-1, according to a report published by The Fight Network.

Speculation has abounded regarding Emelianenko (26-1-1), the man most pundits see as the top mixed martial artist in the world, since the implosion of his former home, PRIDE. The UFC and K-1 had been grabbing most of the headlines in the Emelianenko sweepstakes.

Citing an anonymous source, the Fight Network report claims that M-1, an organization formerly run by Emelianenko's manager, Vadim Finkelstein, has been purchased by a company with ties to the American entertainment industry, and its first order of business was inking Emelianenko to a deal.

Sherdog.com has learned the new organization will run under the M-1 Global moniker and plans to promote shows in Russia, Japan and the United States with the first event possibly coming to fruition as soon as New Year's Eve.

A news conference has been tentatively scheduled for Oct. 23 in New York City to announce the signing as well as to introduce the new promotion to the media.