It is planned that either 16 or 18 teams will participate in the competition, which plans to get underway in 2022 and will be funded by JP Morgan bank.
The biggest clubs in Spain, England, Italy, Germany and France are all said to be in talks regarding the new competition, which aims to replicate the Euroleague basketball model.
It is said that if 18 clubs are selected, there will be 34 league matches – with each side playing all other teams home and away – before the top eight sides would compete for the title.
The affiliated clubs would reportedly not leave their national leagues under the plan, which would continue to be played in each country, but it could have a big impact on the Champions League, Europa League and domestic cup competitions.
Outgoing Barcelona club president Josep Maria Bartomeu has confirmed the club have accepted an invitation to play in a new European Super League, in quotes carried by Diario Sport: “Barcelona have accepted a proposal to play in the European Super League.
“This would guarantee the financial viability of the club going forwards. We have accepted the future Club World Cup.”