Sky News have revealed that Liverpool and Manchester United are in talks to join a European Premier League.
A new FIFA-backed tournament is being discussed involving Europe’s biggest football clubs that will transform the football global landscape.
Financiers are putting together a $6bn (£4.6bn) package to create a product that will be called the European Premier League.
More than 12 clubs from England, France, Germany, Italy and Spain have joined the negotiations as they look to become founding members. The league will likely feature 16 or 18 teams, meaning a minimum of 30 matches for each club.
It would likely replace the Champions League.
Sky claim that as many as five English clubs could sign up to it and a provisional start as early as 2022 has been slated.
A handful of Premier League sides have been approached with Arsenal, Chelsea, Manchester City and Tottenham Hotspur being asked.
None of those clubs have signed terms to join as of yet and it’s believed there will be space for only five, rather than the ‘big six.’
FIFA have been involved in developing the new format, which is expected to consist of 18 teams with fixtures being played during the regular European domestic season.
The top teams in the league will then play a knockout tournament to conclude the league. Prize money for the winners will be worth hundreds of millions every year.
A formal announcement is expected by the end of the month although plans are still in the early stages.
A source described it as "potentially the most important development in world club football for decades".
The news comes just a week after Liverpool and Man Utd’s ‘Project Big Picture’ plans, which looked to hand more power to the big Premier League clubs while helping out the Football League.
However, those plans were unanimously voted against.
But these plans, which effectively represent a European Super League, are even more substantial.
The Wall Street bank JP Morgan is in talks to provide $6bn of debt financing to help launch the European Premier League. Other banks are expected the help finance the project which would become one the world’s most lucrative annual competitions.
Every founding team will be paid hundreds of million of pounds to participate each year.
It will be very interesting to see the development of these plans over the next few weeks but it’s clear Liverpool and Man Utd want change.
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