The idea behind what is being called 'UEL2',
While the concept of a new third tournament may seem novel and fresh to some football fans, it is not the first time we've seen three UEFA tournaments.
As well as the European Cup (Champions League) and UEFA Cup (Europa League), the Cup Winners' Cup ran for nearly 40 years during the 20th century.
Goal takes a look at the competition, past winners and why it came to an end
What was the Cup Winners' Cup?
The Cup Winners' Cup was launched during the 1960-61 season as a pan-European tournament for - as the name suggests - the winners of domestic cups across the continent.
It was a companion competition to the European Cup and the winners of the two competitions later faced off in the final of the UEFA Super Cup.
Thirty-two teams competed and unlike the Champions League and Europa League formats that we are familiar with today, the Cup Winners' Cup was a straight knockout tournament, with home and away legs.
Interestingly, it was the platform where
Cup Winners' Cup champions
AC Milan, Chelsea, Anderlecht and Dynamo Kiev follow on two trophies each. After
Italian side Fiorentina won the first ever tournament beating Rangers 4-1 on aggregate. It was the only final in the competition's history to feature home and away legs, with the rest being single deciders on neutral territory.
You can see the full list of winners and the years they won in the table below.
|4||1979, 1982, 1989, 1997|
|AC Milan||2||1968, 1973|
|Dynamo Kiev||2||1975, 1986|
When did the Cup Winners' Cup end & why?
The last Cup Winners' Cup tournament took place in the 1998-99 season with UEFA's executive committee deciding to abolish it thereafter, bringing an end to four decades of history.
Serie A side Lazio won the final tournament - it was their first time lifting the trophy - by beating Spanish outfit Mallorca in the decider at Villa Park.
The decline of the tournament coincided with sweeping changes to the European Cup, which had been remodelled in 1992 as the Champions League.
With a greater number of elite clubs qualifying for the Champions League through their league positions thanks to UEFA's overhaul, the Cup Winners' Cup gradually suffered from a perceived lack of quality.
It was merged with the UEFA Cup (which later became the Europa League) and the winner of that competition subsequently earned the right to play in the UEFA Super Cup.