UEFA has been given the go-ahead to stage a third European club competition in addition to the Champions League and Europa League.

"Pending approval of the Uefa executive committee, the 'green light' has been given to introduce a third competition," said Andrea Agnelli.

"This would bring the overall number of clubs in European competition to 96, as of the 2021/22 season."

The new European competition would reduce the number of participating clubs in the Europa League from 48 to 32.