UEFA vows to fight against the idea of a European Super League.
The league would have 11 founding members: Manchester United, Manchester City, Chelsea, Arsenal, Liverpool, Real Madrid, Barcelona, Paris Saint-Germain, Juventus and Bayern Munich.
The report added that, from as early as November 2018, the 11 teams could sign a "binding team sheet" and commit to the new European Super League from 2021.
"It would damage football worldwide," UEFA president Aleksander Ceferin told kicker. "It would be boring.
"To see Juve vs. Bayern every week would be more boring than let's say Juve vs. Torino. It's no question for me that I will fight and do all I can against such a league for as long as I am here.
"If we are talking about a closed system, we can forget about solidarity and the development of football. In the long run, the clubs would be the losers."