Liverpool are among several European clubs threatening a breakaway.
Anfield chiefs have joined Manchester United, Arsenal, Chelsea, Tottenham and Manchester City in signing up for the radical ‘Super League’ proposal.
Also involved in the plans to create a new club competition are Real Madrid, Barcelona and Atletico Madrid as well as AC Milan, Inter Milan and Juventus.
The Reds’ principal owner John Henry is expected to be one of several vice-chairmen of the tournament headed up by Real president Florentino Perez.
However the move, which is expected to be announced ahead of UEFA signing off on Champions League reforms has been met with condemnation.
European football’s governing body, the Football Association and Premier League issued a joint statement vowing to ‘stop this cynical project’.
Players risk being banned from all international tournaments, including the World Cup and the European Championships, if representing clubs involved.
Former United defender turned TV pundit Gary Neville publicly lamented his old club and Liverpool for being driving forces in the controversial bid.
“I am disgusted by Manchester United and Liverpool the most,” he told Sky Sports.
“Liverpool, the pretend (with) ‘You’ll Never Walk Alone’ (they are) the people’s club, the fans’ club. Manchester United – 100 years, born out of workers.
“And they are breaking away into a league without competition, that they can’t be relegated from?
“It is an absolutely disgrace. Honestly, we have to wrestle back power in this country from the clubs at the top of this league, and that includes my club.”
United’s legendary manager Sir Alex Ferguson also voiced his disapproval, telling Reuters it would be ‘a move away from 70 years of European club football’.