No fewer than 12 elite clubs have agreed to join the European Super League which would see them dump the prestigious UEFA Champions League, a statement has said.

According to the statement released on Sunday, April 18th, not less than six English Premier League clubs, including Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, and Tottenham, have agreed to join the new elite league.

Although the new formation would not boycott domestic leagues, AC Milan, Atletico Madrid, Barcelona, Inter Milan, Juventus and Real Madrid also joined as “founding clubs”.

With the inaugural season set to commence “as soon as practicable”, it is expected that “a further three clubs will join ahead of the inaugural season” of the new mid-week competition.

“Going forward, the Founding Clubs look forward to holding discussions with UEFA and FIFA to work together in partnership to deliver the best outcomes for the new League and for football as a whole.

“The formation of the Super League comes at a time when the global pandemic has accelerated the instability in the existing European football economic model.

“Further, for a number of years, the Founding Clubs have had the objective of improving the quality and intensity of existing European competitions throughout each season, and of creating a format for top clubs and players to compete on a regular basis.

“The pandemic has shown that a strategic vision and a sustainable commercial approach are required to enhance value and support for the benefit of the entire European football pyramid.

“In recent months extensive dialogue has taken place with football stakeholders regarding the future format of European competitions. The Founding Clubs believe the solutions proposed following these talks do not solve fundamental issues, including the need to provide higher quality matches and additional financial resources for the overall football pyramid,” the statement said.