VH1 has announced I Love Money, a new reality competition series that will pit former Rock of Love, I Love New York and Flavor of Love contestants against one another for the chance to win $250,000, will premiere Sunday, July 13 at 9PM ET/PT.

I Love Money will follow 17 contestants from either of the three aforementioned VH1 "Celebreality" shows as they travel to Mexico, where they'll live together and compete in various challenges that test their desire to get rich quick. 

"I Love Money is the perfect 'Celebreality' storm as it takes the biggest, boldest and most outspoken characters from VH1's hit series and puts them on one giant show," said VH1 programming executive Jeff Olde.

VH1 will reveal the identities of I Love Money's cast via the network's blog, with several names being released each day this week.

I Love Money is created and executive produced by Mark Cronin and Cris Abrego for 51 Minds Entertainment -- which also produces VH1's Rock of Love, Flavor of Love, Charm School, I Love New York, The Surreal Life and My Fair Brady "Celebreality" shows.

"Our producers at 51 Minds have delivered hit after hit for VH1 by casting the most watercooler characters in the history of reality TV," said Olde.  "We couldn't resist the opportunity to make those breakout characters the true stars of their own show."

The 12-episode series will be hosted by actor Craig J. Jackson.