In theory they could lead to teams like Man City, Chelsea and PSG, who make huge losses each season, being kicked out of European competition.

"I fully agree with the principles but I'd like to see what is going to happen once it is going to be fully operational," Agnelli told the Leaders in Football conference.

"Are you going to ban three teams from participating in the Champions League?

"Who is going to go to the broadcasters and say "oops, we haven't got these teams playing"? Is that going to be a correction of the overall values of the TV rights?"