The competition will feature 32 teams and will finish in late May, with the winners gaining entry into next season's Heineken Cup, Europe's premier club competition.
The new sponsors have invested £3m ($4.42m, B4.8m) for the privilege of being the title sponsor.
Valladolid, the Spanish league champions, and Madrid, the cup winners, will join clubs from England, France, Ireland, Wales, Italy and Romania in the eight pool rounds.
The tournament opens with the match between Connacht and Narbonne, last season's runners-up, on Friday 28 September.
This season's secondary European club rugby competition has been launched with a new name, the European Shield rebranded as the Parker Pen Shield.
