Liverpool and Manchester United are reportedly involved in another plan to reshape the football landscape.

The two clubs are in talks aimed at starting what is being unofficially referred to as the European Premier League.

Sky Sports reports FIFA are backing the plans.

It is said the league would NOT be a breakaway although it could clearly lead to a major shift in priority for clubs involved.

Prem clubs including Albion will await developments with interest.

Sky News has learned that financiers are assembling a £4.6 billion funding package and more than a dozen teams from England, France, Germany, Italy and Spain are in negotiations about becoming founder members of the competition.

READ MORE: Albion hope to avoid a repeat of history

Up to five Prem clubs could be involved.

Liverpool and United were reported to be the two clubs behind Project Big Picture, which was thrown out by the Premier League last week.