Six English teams are expected to be part of plans for a breakaway European super league, with an announcement due tonight, Sky News understands.
Among the English clubs involved are Liverpool, Manchester United, Arsenal and Chelsea.
The project has been launched to rival UEFA’s Champions League format which currently dominates European football.
Sky News’ City editor Mark Kleinman said: “My understanding is that 12 clubs from across Europe including the six biggest English clubs have now signed up to this new format.
“The others include Barcelona, Juventus and Real Madrid.”
Kleinman added: “The new league includes staggering sums of money that will be handed to the participating clubs. About $6bn has been committed to this new project by the American bank JP Morgan.
“And this will come after European clubs’ finances have been hard-hit by the coronavirus pandemic which is one of the reasons why so many of Europe’s biggest clubs have decided that now is the right time to form a European super league after years of on/off discussions about such a project.”