The division is currently sponsored by Adidas and thus officially known as the Adidas World League Three. It's the the 5th Division in the FIFA World League.
The 2013-2014 season was the first for the newly established competition. The season started on Saturday 17th August 2013 and is due to conclude on Sunday 11th May 2014. The fixtures were announced on 19 June 2013. The television broadcast rights were given two-to-three weeks later.
The FIFA Executive Committee selected the inaugural Premier division teams based on numerous factors such as previous years performance (both domestically and internationally) as well as overall worldwide reputation.