Andrea Agnelli, president of the European Club Association (ECA), said that many of the top European clubs are looking to evolve the Champions League format.

"We are at the beginning of the process and we must take more time to analyse all the proposals, as it is not a matter of yes or no. The new Champions League is pure speculation at this time," said Agnelli.

Agnelli added that he wanted to create a solution that would satisfy both big European sides and smaller clubs.

"Real MadridBayern Munich and Juventus want to play the competition, but also hundreds of other teams. We are talking and in a few months we will see if the new competition will be open for everyone. The process will be open and transparent, as was the meeting with UEFA. This is how football should be in the future and the talks will take place between two and 20 months. The dialogue will be open for all the clubs and we will look for a fair system for football and for European clubs, without forgetting all the parties."