The tabloid, called Midweek Sport, will debut tomorrow (Wednesday) across the UK and will remain on newsstands until Saturday.
Like the Sunday Sport, the MidWeek Sport's point of difference to other titles will be its sensationalist stories and high quota of topless girls.
The first issue of Midweek Sport, priced at 60p, will run to 64 pages. Around 170,000 copies are being printed.
Advertisers in the paper will be adult brands and the editorial content will feature "real-life" stories about "Britain's behaving badly" according to editor Nick Appleyard.
Sulivan's company Sunday Sport 2011 bought the rights to the Sunday Sport name after he struck a deal with the administrators for Sports Media Group (SMG), its previous owner, in April this year.
SMG stopped publishing the Daily Sport and Sunday Sport in April. The Sunday Sport began publishing again on 8 May.
Mark Harris, managing director of Sunday Sport 2011, said he would be pleased to achieve an initial circulation of over 60,000 but hope to increase this to more than 100,000 by the end of the year.
The title will be stocked in newsagents across the country. However major supermarkets such as Tesco and Sainsbury – with the exception of the Co-op – will not list the title.
Sulivan is also considering launching a Friday edition of the tabloid and is likely to make a final decision on this by October this year.