The news comes via a report in the Times, which details how the competition would replace the current annual "Club World Cup" and also see the Confederations Cup being scrapped.
The Times suggests that United and Liverpool will be two of 12 European clubs invited to take part, having won at least three European Cups in the past.More news: TN HSC Class 12 results 2018 declared | 91.1% pass | Check tnresults
It is said that UEFA and the Premier League are "furious" at the idea with a $1b pot shared among the clubs.More news: Funeral held in Gaza for baby killed by tear gas
It is reported that Fifa's proposal would see the 24 participating clubs split US$2 billion in prize money, with each club earning a minimum of UK£50 million (US$67.4 million) and the champion pocketing as much as UK£100 million (US$134.8 million).
Of course, the clubs would not have to take part should they not wish to do so, but with a guaranteed £50m for competing and a potential £100m for winning the tournament, clubs are unlikely to turn down the offer. The country already has five World Cup titles: 1958, 1962, 1970, 1994 and 2002, and was the host of the 2014 World Cup, in which the local team lost in the semi-finals to Germany - who eventually became the champions - with the embarrassing result of 7-1. He adds that the Swiss is expected to call an emergency Fifa Council meeting in early June in a bid to get the green light.More news: Karnataka verdict: P2M - This is what is left of Congress in India