The World Baseball Softball Confederation released new information regarding the Premier 12 on Wednesday. From a release at the official site:
The president of the World Baseball Softball Confederation (WBSC), Riccardo Fraccari, announced today the launching of the new flagship men's National Team baseball event, The "Premier12" world championship, which will first be staged in November 2015 in Taiwan and feature the world's top-twelve ranked nations (The "Premier12").
... The WBSC will guarantee prize money – a US$ multi-million cash total – among all National Teams/National Federations (NFs) participating in The Premier12 and will also cover their costs (e.g., air travel, accommodation, etc.), with the players being treated to premium services and facilities.
WBSC has elected to stage the inaugural Premier12 in November 2015, following the conclusion of many domestic league championships, to give the world’s professional players the opportunity of uniting to represent their National Teams over 10-12 competition days.
... The WBSC will announce The Premier12’s qualified National Teams later this year (in Nov.), after the final 2014 World Rankings have been calculated. Currently, WBSC’s top twelve ranked countries in the world are No. 1 USA, No. 2 Japan, No. 3 Cuba, No. 4 Chinese Taipei, No. 5 Dominican Republic, No. 6 Netherlands, No. 7 Canada, No. 8 Korea, No. 9 Puerto Rico, No. 10 Venezuela, No. 11 Italy and No. 12 Mexico – and only a few points separate Mexico from No. 13 Panama, No. 14 Australia and No. 15 Brazil.
... There will be a total of 38 contests in the 2015 Premier12.
The Premier12 National Teams will be split into two groups of six and begin the competition with a round-robin that will see each nation play five games (30 games in total).
The top four nations from each group will advance to the next round, which begins the single-elimination knockout stages (quarterfinals, semifinals and gold-medal final). A bronze medal match will also be organised.
Source: official announcement