Six English teams are expected to be part of plans for a breakaway European Super League, with an announcement due tonight, Sky News understands.
Among the English clubs involved are Liverpool, Manchester United, Arsenal and Chelsea.
The project has been launched to rival UEFA's Champions League format which currently dominates European football.
Sky News' City editor Mark Kleinman said: "My understanding is that 12 clubs from across Europe including the six biggest English clubs have now signed up to this new format.
"The others include Barcelona, Juventus and Real Madrid."