It's been reported that former Olympian Caitlyn, who came out as transgender in an interview with Diane Sawyer back in April, will attend the sports ceremony with her family, marking her first public and red carpet appearance since her transformation.
In a statement, Caitlyn - formerly known as Bruce Jenner - said: "In the past few months, the overwhelming outpouring of support from all over the world for my journey has been incredible. However, being honoured with this award, which is named after one of my heroes, is truly special. For the first time this July, I will be able to stand as my true self in front of my peers."
The awards will take place on 15 July.
Caitlyn made her first appearance on the July cover of Vanity Fair, which was unveiled yesterday.
The headline, titled: "Call me Caitlyn," shows the American star sitting on a stool with her legs crossed while wearing a strapless satin corset. The image was shot by famed photographer Annie Leibovitz.
Caitlyn told the magazine how she suffered a panic attack after undergoing a 10-hour facial-feminisation surgery.
Speaking about her transformation, Caitlyn added: "It's not about the fanfare, it's not about people cheering in the stadium, it's not about going down the street and everybody giving you 'that a boy, Bruce,' pat on the back, O.K. This is about your life."
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