FIFA's rival to the Ballon d'Or was announced on Monday with 'The Best' awards to be handed out to the world's leading footballers in January.

With the FIFA Ballon d'Or having ceased to exist after the contract between France Football and the world game's governing body expired, FIFA has unveiled their replacement.

And it will include greater fan participation thanks to a new voting system in the player and coach of the year categories. The winners will be chosen via a process in which 50 per cent of the result is based on the choices of captains and head coaches of all of the world's national teams. The other 50 per cent will be split between the result of an online public ballot and the submissions from a selected group of more than 200 media representatives from around the world.

FIFA president Gianni Infantino said: "This event will be about football and its most passionate participants – players, coaches and fans.

"It is a new event with new approaches to celebrating the game we all love."

Players will continue to choose the line-up for the FIFPro World11, while fans will select the Puskas Award for goal of the year through an online public ballot.

The shortlists for the coach and player awards - for both men and women - will be announced this week with the final three nominees in each category unveiled on December 2.