Triple H, WWE's Chief Content Officer, announced a brand new Crown Jewel Championship during WWE Bad Blood on Saturday.

The event will be held annually between the World Champion and the WWE Champion for both men and women in order to determine the Crown Jewel Champion.

Neither of the titles will be on the line during these matches, but the WWE is aiming to label a "definitive winner," according to Triple H.

The champion will be adorned with a brand new, flashy Crown Jewel belt on top of their respective championship belts.

The belt holds an impressive 50 carats worth of diamonds that Triple H said "will signify the winner as the best of the best."

Last year's Crown Jewel event featured Seth Rollins retaining his title against Drew McIntyre, Solo Sikoa defeating John Cena, Roman Reigns besting LA Knight, and Iyo Sky overcoming Bianca Belair.

Crown Jewel is scheduled for Nov. 2 this year and will take place in Mohammed Abdo Arena in Riyadh, Saudi Arabia.

As it stands, undisputed WWE champion Cody Rhodes could face WWE World Heavyweight Champion Gunther in the event. On the women's side, WWE Women's Champion Nia Jax could face Women's World Champion Liv Morgan.

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