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There was a press conference in Japan today to announce the formation of K-1 World League, which will be managed by Good Loser, the company that produces KRUSH events in Japan, and produced by M-1 Sports Media. The first event is set to take place on July 21st at Shinjuku FACE and will be an amateur tournament akin to K-1 Koshien, the finals being held on November 3rd at Yoyogi National Stadium along with professional fights from some of Japan's top fighters. Announced names are Yuta Kubo, Yoshihiro Sato, Yasuhiro Kido, Hirotaka Urabe, Koya Urabe, HIROYA, Takeru and others. Takayuki Kohiruimaki is also listed as one of the K-1 Gym's official trainers, as this whole thing is in association with the K-1 Gym.
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So it looks like there are two "K-1"s now, K-1 Global and K-1 World League. Kinda weird.