FIFA has confirmed an expanded edition of the Club World Cup, which will be played for the first time in 2021.
The tournament, which will have 24 teams will be hosted in China, with some of the top teams in world football expected to feature including winners of the Champions League and Europa League.
This was agreed upon during a FIFA council meeting in Shanghai on Thursday, with the official announcement expected to be done on Friday.
The competition is expected to feature eight European teams, six from South America, three from each of Africa, Asia and North and Central America and one from Oceania.
FIFA President Gianni Infantino termed the decision 'historic', and one which will offer more clubs the chance to showcase their football.
"It is a historic decision for football," he said. "The new [tournament] will be a competition which anyone who loves football is looking forward to. It is the first real and true Club World Cup where the best clubs will compete,"
"It will allow us to generate significant revenues but I want to underline this, very, very clearly ... FIFA will have zero out of this because we will reinvest this in football."
This year's competition will be held in Qatar from December 11, with European Champions Liverpool favourites.
Real Madrid won the 2018 edition following a 4–1 victory against Al-Ain final at the Zayed Sports City Stadium in Abu Dhabi, United Arab Emirates.