This competition was run in its current form for the first time in 1997. It is closer to the Gold Cup last run in the early 1990s than the Knockout Cup run by the previous British Premier League in 1995 and 1996.
The competing clubs are placed in two qualification groups.
The Northern Group consists of Berwick, Edinburgh, Glasgow, Hull, Newcastle, Sheffield and Stoke.
The Southern Group comprised Arena Essex, Exeter, Isle of Wight, Newport, Peterborough, and Reading.
Each group is run as a mini-league with points awarded as in the Premier League Championships, two points for a win, one for a draw, and an aggregate point for the winner over two legs.
The team and race format is the same as for the Premier League Championship.
The top two teams in each group progress to the knockout stage of the competition.
The semi-finals are decided on an aggregate score from a two-leg home and away clash. The winning semi-finalists go through to the final, which is decided on a similar basis.
In the inaugural season of this competition, Edinburgh won the cup after beating Oxford by 94 points to 86 on aggregate.