Premier League clubs to be invited to revamped FIFA Club World Cup

Significant changes are reportedly being planned for the Fifa Club World Cup.

Football's world governing body are said to be looking at revamping up the tournament's existing format, expanding it to 24 clubs and staging it every four years. Fifa currently have several options for the tournament, with The Times reporting their preferred model would see invitations extended to European clubs that have won three or more European Cups. This would mean Liverpool (five titles) and Manchester United (three) would be two of the teams to receive an invitation. Other Europeans heavyweights which meet this criteria would expect to be involved, as would Juventus - who have two Intercontinental crowns despite only winning the European Cup twice. Three other slots are expected to be available for European clubs, potentially opening the door to the likes of Arsenal, Chelsea, Manchester City and Paris Saint-Germain. The first version of the restructured tournament would take place in 2021, with China possibly in line to play host.  It is expected to replace the existing tournament - which takes place on an annual basis - and the Confederations Cup. The report also adds that the 24 teams involved would share a £1.5bn prize fund for taking part, each club earning between £50m and £100m depending on how far they progress in the competition. A consortium of backers from Saudi Arabia, the United Arab Emirates and Japan are said to have pledged the money to make the tournament happen.