UEFA has confirmed it is 'looking at a variety of options' in the wake of reports that a third club cup competition is set to be introduced.

The Professional Football Strategy Council met in Monaco ahead of the Champions League draw on Thursday to discuss a variety of matters impacting the professional game.

Among the topics at the meeting chaired by UEFA president Aleksander Ceferin was an update from the Club Competitions Committee on ongoing work regarding the 2021-2024 cycle.

UEFA considering a new competition alongside the Champions League and Europa Leaggue

UEFA president Aleksander Ceferin held a meeting to discuss the professional game

German newspaper Bild reported soon after that it had been decided to introduce a third continental club competition below the Champions League and Europa League in three years' time.

A statement from European football's governing body in response to that report read: 'UEFA is constantly reviewing the format of its competitions and is looking at a variety of options in this respect.

'UEFA is discussing various ideas within its Club Competitions Committee before any decision on potential changes would be made.'