The CIS Insurance Cup, won by Linfield last season, is no more. Now it's called a different name and there's a radically different format to boot.

The overall prize fund has also been increased to £50,000.

It will now be known as The Co-operative Insurance Cup and it's start date has been pushed back into the season to allow the race for the Gibson Cup to raise the curtain on the domestic campaign.

In previous years the big boys battled it out for the glittering prize but now, just like in the Irish Cup, the minnows have a chance to rattle the big guns.

That's because the competition will be open to the 17 teams which make up the IFA Championship as well as the top flight teams.

Rounds One and Two will feature teams from the Championship, played on a home and away basis with away goals counting double.

However, one qualifying match will be required to achieve the 16 Championships clubs for Round One.

Those clubs will be drawn to contest a one-off match with extra-time and penalties if required. The four successful clubs from Round Two will join the IFA premiership clubs in Round Three.

Rounds Three and Four will also be played on a home and away basis with away goals counting double. The semi-finals and final will be one-off matches with extra-time or penalties if required.

The draw for Round One of The Co-operative Insurance Cup will take place on Tuesday, August 12. The final is scheduled for Saturday, February 28 at Windsor Park.

Hugh Wade, Vice-Chairman of the IFA Premiership, said: "On behalf of the League, we are delighted to have The Co-operative Insurance on board with the formation of a new structure, name and logo for this year's League Cup competition.

"The Co-operative Insurance Cup promises to be an exciting element of this year's domestic football calendar as we believe that the new format will heighten public and media interest as each match will be crucial to every team's progression in the competition. The Co-operative Insurance Cup offers a great opportunity for all the teams involved and I hope this can be another step in helping to raise the standard of football within Northern Ireland."

IFA president Raymond Kennedy added: "This is another great news story for the IFA and football in Northern Ireland. I would like to wish all the 29 clubs every success in this new competition."

The Co-operative Insurance Cup Fixtures Schedule:

QUALIFYING ROUND: 1 match - 2 IFA Championship clubs: Tuesday 26 August 2008

ROUND 1: (To include 16 IFA Championship clubs, eight matches - two legs (away goals to count double): 1st leg - Saturday 30 August 2008; 2nd leg - Wednesday 3 September 2008

ROUND 2: (To include the eight winning teams from Round 1; four matches - two legs (away goals to count double): 1st leg - Saturday 20 September 2008; 2nd leg - Wednesday 24 September 2008

ROUND 3: (To include the 12 IFA Premiership clubs and the four winning teams from Round 2); eight matches - two legs (away goals to count double): 1st leg - Tuesday 28/Wednesday 29 October 2008; 2nd leg - Tuesday 11/Wednesday 12 November 2008.

ROUND 4: (To include the eight winning teams from Round 3, four matches - two legs (away goals to count double): 1st leg - Tuesday 2/ Wednesday 3 December 2008; 2nd leg - Tuesday 16/Wednesday 17 December 2008.

SEMI-FINALS: Semi Final 1 - Tuesday 20 January 2009; Semi Final 2 - Wednesday 21 January 2009

FINAL: Saturday 28 February 2009 (All other IFA Premiership matches to be re-scheduled).