It was originally planned to stage the event next month, but the organisers, American-based World Heli Challenge, have postponed it to next year because of sponsorship developments.
The event was last held in 2001 in Wanaka and is now set down to resume at Mt Cook from August 29 to Sep-tember 12 2009.
Organisers said it would feature the cream of the world's top snowboarders and skiers. Three days of helicopter-accessed riding will be scheduled over the two-week period, allowing for perfect weather and snow conditions for the big mountain, backcountry freestyle and downhill competition to take place.
A range of adrenaline-pumping activities are planned during the non-event days, incorporating jet-boating, bungee jumping, golfing, surfing, mountain biking and everything else New Zealand is renowned for.
The event put freeride skiing and snowboarding on centre stage and demonstrated the mental, physical and logistical preparation needed for every athlete involved.
"The event sounds like some ridiculous fantasy," said American freeskier Drew Tabke, who is ranked fourth overall in the world.
"It looks like the most incredible experience someone could ever have. If I got the opportunity [to participate], I would be endlessly grateful."
He would join two-time world champion Chris Davenport who has confirmed his entry.
"It is my favorite competition on earth. No other ski or snowboard event combines freestyle, extreme and psycho downhill skills," he said.
In the meantime, a select group of riders and media will be gathering this September in New Zealand for a couple days of heli-accessed filming and shooting in anticipation of next year's main event.