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Published 16:47 25 Feb 2021 GMT
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Istanbul, St Petersburg, Wembley and Munich will play host to the competition's next four finals, but the 2024-2025 edition could be the first of many to be played further afield.
The new format would also allow teams entry into the competition through "historical" coefficients, meaning those clubs with strong pedigree in European competition may still qualify even if they struggle domestically.
The group stages, a feature of the Champions League since the mid nineties, could also be scrapped in favour of a format which would see all teams ranked in a table having played 10 games against seeded opponents. From there, the top eight sides would automatically advance to the last-16 stage as seeded teams, with the teams ranked between ninth and 24th joining them in the knock-out rounds.
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