diff --git a/VERSION b/VERSION
index 1bdaeb05125..7be5d61960c 100644
--- a/VERSION
+++ b/VERSION
@@ -1,5 +1,5 @@
 VERSION_MAJOR = 3
-VERSION_MINOR = 1
-PATCHLEVEL = 99
+VERSION_MINOR = 2
+PATCHLEVEL = 0
 VERSION_TWEAK = 0
-EXTRAVERSION =
+EXTRAVERSION = rc1