diff --git a/ChangeLog b/ChangeLog
index 85142a0871dfe712cd867e69743a9d9f770565f9..365874f088a74713951efaacfadc7a360c7ac8d9 100644
--- a/ChangeLog
+++ b/ChangeLog
@@ -1,3 +1,9 @@
+Mon Sep 23 2019 Marcin Åšlusarz <marcin.slusarz@intel.com>
+
+	* Version 1.7-rc1
+
+	TBD
+
 Tue Aug 27 2019 Marcin Åšlusarz <marcin.slusarz@intel.com>
 
 	* Version 1.6.1
diff --git a/GIT_VERSION b/GIT_VERSION
deleted file mode 100644
index f59cc05cb6952f2fd8a3be03c1765c99881acb22..0000000000000000000000000000000000000000
--- a/GIT_VERSION
+++ /dev/null
@@ -1 +0,0 @@
-$Format:%h %d$
\ No newline at end of file
diff --git a/VERSION b/VERSION
new file mode 100644
index 0000000000000000000000000000000000000000..fdf89063a5ac949721c2640d76e9d441ae293a32
--- /dev/null
+++ b/VERSION
@@ -0,0 +1 @@
+1.7-rc1