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European soccer's top clubs reportedly to announce 'super league' the day before Champions League changes

A group of European mega-clubs have agreed in principle to a breakaway "super league" one day before UEFA plans to ratify changes in the Champions League that would prevent it, the New York Times reported on Sunday.

The new league comprised of the continent's top clubs has been rumored for decades and used as a leveraging tool. The Times reported in January that plans were advanced enough that funding was being sought to pay each of the members a fee for their commitment.

The new league could be announced as early as Sunday, the Times reported, and would completely change the structure of European soccer.