FIFA are vying to create a new 24-team Club World Cup which will feature the world's elite teams and see them pocket over £100 million.

FIFA want a new format of the tournament to be held every four years, with the first to take place in June 2021. China wants to be the first host nation to host the tournament, which would feature 12 clubs from Europe with rich European histories.

Clubs who have won at least three Champions Leagues or European Cups will earn the inaugural invited to the proposed tournament, which includes Liverpool, Manchester United, Real Madrid, Barcelona, AC Milan, Bayern Munich, Ajax and Inter Milan. Juventus would also be invited on the basis of having won two European Cups and two Intercontinental titles.

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The Times report that both UEFA and The Premier League are strongly against FIFA's proposals, despite Fifa president Gianni Infantino being desperate to secure an agreement before the World Cup starts in Russia on June 14.

The 24 clubs would share a ridiculous £1.5 billion pot for featuring, with each competitor earning a minimum of £50 million and the winner earning over £100 million. That is said to be funded by a co-consortium that includes Saudi Arabia and the United Arab Emirates among the biggest backers.