Champions League, Europa League...and now another one!

The UEFA Champions League and Europa League trophies [Couretsy]

The Union of European Football Associations (UEFA) is set to roll out another club competition from the year 2021.

This will be the third European competition introduced by UEFA after the Champions League and Europa League.

According to English news outlet Mirror, European Club Association chairman Andrea Agnelli said the proposed regulations are aimed at improving the quality of competitions and hoped they will yield fantastic results.

Andrea Agnelli said the proposed regulations are aimed at improving the quality of competitions and hoped they will yield fantastic results [Courtesy]

"These new regulations will be even more effective than the ones we had in place which delivered astonishing results which have just been announced by UEFA," said Agnelli.

He went on to confirm that the green light to introduce the third competition had already been given pending approval:

“Pending approval of the UEFA ExCo, the 'green light' has been given to introduce a third competition, bringing the overall number of clubs to 96, as of the 2021-22 season,” he added.

If this new competition is introduced, there will be no changes in the Champions League – with the Europa League seeing teams reduced to 32. This will allow proper distribution of quality and also give a chance to smaller teams from tiny nations a shot at glory.

#ECA Chairman opened his address to members by commending the new FFP regulations, stating:

"These new regulations will be even more effective than the ones we had in place which delivered astonishing results which have just been announced by @UEFA."#ECAGeneralAssembly pic.twitter.com/0UWm1DUq4q

— ECA (@ECAEurope) September 11, 2018

The idea is also to decongest the qualification process.

Since the Intertoto Cup was cancelled in 2008, UEFA has only run the Champions League and Europa League.