Dalian Wanda, led by China’s richest man Wang Jianlin, is rumoured to want to restructure the Champions League, an annual continental club soccer competition organised by the Union of European Football Associations (UEFA).

It is understood that Wang aims to re-organize the league’s “pyramid structure that prevents its further development”. The Chinese group is believed to have talked with the management of various European soccer leagues. One source claims that the reform would grow the revenue of the UEFA Champions League by 1 billion euros.

Wanda is set to hold a meeting next October with the management of European soccer leagues to discuss a suitable reform plan.

“It’s a serious issue, ” states the source, “It's not about creating a new European league with teams from different leagues, but re-organizing the UEFA Champions League itself.”

In July, Wanda announced that it will host an annual "China Cup" tournament, to raise the profile of the Chinese national football teams. The first event, as part of the partnership between Wanda and the Chinese Football Association, will kick off in Nanning, Guangxi Province on January 9th next year, running to the 16th.

Source: vozpopuli

Proofread by Sean O Diobhilin