New York, New York - Streaming giant Netflix announced Wednesday that competitive eating legend Joey Chestnut will face off against a fierce rival in a hot dog eating contest, in the latest event to be aired live on Netflix.

The announcement comes a day after the esoteric world of speed eating contests was rocked by the news that Chestnut had been banned from a popular New York event sponsored by fast-food company Nathan's.

Improbably, hot dog hero Chestnut was banished from that competition after endorsing a plant-based meat company, but immediately promised his fans via social media that "you'll see me eat again soon!!"

It now emerges he will go head to head on Netflix with Japan's Takeru Kobayashi, a former world record holder who won the same New York event six times in a row before he was beaten by Chestnut in 2007.

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"A rivalry simmering for 15 years. CHESTNUT VS. KOBAYASHI: UNFINISHED BEEF – the ultimate hot dog eating competition – will air LIVE on Netflix, Monday, September 2," wrote the streamer.

Chestnut is the top-ranked competitive eater in the world, according to Major League Eating.

He has won the Nathan's contest on July 4 – which draws thousands of fans each year – a total of 16 times, including in 2021, when he set a world record by eating 76 hot dogs and buns in 10 minutes.

"Through all of my years in competitive eating, Kobayashi stands out as my fiercest rival," said Chestnut, quoted in a Netflix press release.

Kobayashi will come out of semi-retirement for the showdown.

"Retiring for me will only happen after I take him down one last time," said Kobayashi, in the same statement.

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Netflix has been cautiously moving into the live events space in recent years, including a Chris Rock comedy special and a celebrity golf tournament.

The streaming giant will broadcast two National Football League games next season for the first time, as well as a highly-anticipated boxing match between Mike Tyson and Jake Paul in November.

Netflix will also start streaming professional wrestling next year.