The new FIFA Club World Cup is set to increase to 24 teams involved, and the inaugural competition will take place in China in 2021.
According to the New York Times, the international club tournament will replace the Confederations Cup in the footballing calendar.
FIFA's plans hinge on a confirmatory vote in their quarterly council meeting, before an announcement scheduled to take place in Shanghai on Friday.
Although, there is still some doubt that looms over the outcome as some confederations initially rejected the expansion of the competition.
The new format will see the Club World Cup no longer take place annually, but rather every four years.
Europe will contribute eight of the 24 teams involved, which is expected to include the winners of the UEFA Champions League and Europa League over that time.
China has been chosen as the first hosts as a reward for their significant investment in football across the country.
The Chinese clubs are synonymous with mega-rich owners and some of the world's highest salaries for football players.
It's thought that by awarding the Club World Cup to China, their chances of hosting the 2030 World Cup will be enhanced.
The USA, who are co-hosts of the 2026 World Cup are widely expected to be awarded the FIFA Club World Cup in 2025.
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