Alongside the UEFA champions League and the UEFA Europa League, the European Football authority plans to introduce a third European club competition from 2021.
The decision still subject to ratification by the UEFA executive committee is said to be a strategy to further boost the body's revenue as well as provide a competition for smaller teams asides the Europa League.
Head of the European Football Authority (ECA), Andrea Agnelli, stated at the general assembly of the ECA that pending approval, the 'green light' has been given to introduce a third competition.
Though scant detail was given about the competition, the Juventus chairman, Agnelli, said "This would bring the overall number of clubs in European competition to 96, as of the 2021/22 season."
"A detailed assessment of the existing international match calendar is required prior to presenting a new model post-2024. The current model needs modernising."
It could mean the Europa League’s group stage will be trimmed from 48 teams to 32, with the third European club competition, the Champions League and the Europa League having the same number of participants.
UEFA previously had the Intertoto Cup as a third European cub competition but it was abolished in 2008.