It would see each team earn £100 million each for competing, according to reports.
The Liga champion regards as favorable the subsequent elimination of "two Federation Internationale de Football Association competitions, the Confederations Cup (for national teams) and the current Club World Cup" played every year by seven clubs in December.
The competition would be held every four years and it would replace the current club World Cup competition which takes place on an annual basis and it would also see the removal of the Confederations Cup, which is being proposed to alleviate fears about fatigue for the world's top players.
Manchester United, Liverpool, Barcelona, Real Madrid, Bayern Munich, AC Milan, Inter, Juventus, Ajax and Paris Saint-Germain are the 10 European nations said to be confirmed for the first tournament with an extra two to be picked from Manchester City, Chelsea, Atletico Madrid, Borussia Dortmund, Porto and Benfica.
Zimbabwe central bank bans cryptocurrencies
Since RBZ is a so-called "custodian of public trust", its obligation is to ensure that the payment systems in the country are protected.
Funding for the new tournament is being put up by a consortium of investors led by Japan's SoftBank and backed by the likes of Saudi Arabia and the United Arab Emirates. It is not clear which clubs from other continents might be invited to take part.
Infantino insists that the new format will reduce the number of games the "great players" would play in each four-year cycle, but the leagues are sceptical and object to cramming new competitions into the football calendars.
The Times' Martyn Ziegler reports that China have already thrown its hat into the ring to stage the inaugural edition of the Club World Cup in 2021.