"The "green light" has been given to introduce a third competition, bringing the overall number of clubs to 96, as of the 2021-22 season", Agnelli said, adding that it still had to be approved by European soccer body UEFA.
Andrea Agnelli, stated at the general assembly of the ECA that pending approval, the "green light" has been given to introduce a third competition.
In July, UEFA's disciplinary tribunal gave the club a one-year ban from European competition, which was deferred for a probationary period of two years.
No details have been announced, but it is expected to run alongside the Champions League and the Europa League, although reports suggest the latter competition could be restructured. Others claim the football calendar is already busy enough. The admission criteria for this new competition are still to be determined along with the importance of it in comparison to the Europe League.
It would mark a return to three European club competitions after the Cup Winners' Cup was abolished at the end of the 1998-99 season.
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Speaking after the meeting in Split, ECA vice-chairman Dariusz Mioduski said the idea is the product of "very intensive conversations" with UEFA about the "growing financial gap between the top clubs" and those from medium-sized and small associations.
According to Sport Bild, this new European competition would reduce the number of participating clubs in the Europa League from 48 to 32, the same number as in the Champions League.
"It is nearly obvious that a third competition will be added".
Since then, Europe's top teams have met in the Champions League and Europa League, formerly known as the UEFA Cup.
Mioduski, Legia Warsaw's owner and president, said there were still a number of issues to resolve but "we are going in the right direction and entering the last stage of discussions".