Here's why Manchester United, Chelsea are opposing Champions League proposal

Further, reports also state that the UEFA was also considering to make changes in the format of the group stage of the UCL.

It suggested that four groups of eight teams should lock horns in the group stage.

This would have seen teams playing 14 group-stage matches before qualifying for the knockouts.

Meanwhile, the English clubs have criticized the proposal.

They feel that the only viable option in order to make it happen would be to pull out of a domestic tournament, and the League Cup might become the victim of this proposal.

And, if done so, the League Cup's future could be in jeopardy.

Meanwhile, a club official was quoted as saying to The Sun that while no agreement is in place, for now, none of the ideas are acceptable either.

"We all want more money and there is an acceptance that things will have to change. But, the plans do not have any real support, so they have to go away and think again," the official said.

Meanwhile, ECA chairman Andrea Agnelli, who is also the head of Juventus, said while all the plans were in place, nothing has been finalized as of now.

"It's been great seeing the participation of many clubs in sharing consultation in the past couple of months. This was the start of a genuine, open and transparent process," said Agnelli.