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As reported by the BBC, the UEFA are all set to agree on a set of proposals that could change the Champions League as we know it.

A new format, expected to begin from 2024, has been in the works for over two years and the executive committee will finalise the changes by Wednesday.

What changes to expect in the new format?

The group stages will be scrapped and we will have 36 teamschallenging for the prize instead of 32.
There will be two 'wild card entries' reserved for clubs with the highest UEFA coefficient points (based on past European success) for those who fail to qualify through their league position.
That would mean, based on the current table, Liverpool would've got a spot in the Champions League even though they are seventh in the table.
Each team will play 10 games against various opponents and there will be an overall league table.
Those who finish in the top eight will qualify for the knockout rounds while the rest move into play-offs.

What does this mean for Chelsea?

The BBC understands that it is '99 per cent certain these protocols will be ratified', meaning this could be the norm from 2024.

If we have a league-based system for the Champions League, it means there will be additional fixtures (an even more congested schedule). The new format will require 19 match rounds - that's six more than what we play currently.

To accommodate these dates, English clubs may need to sacrifice the time slots for the third, fourth and fifth rounds of the EFL Cup (September to December).

This doesn't bode well for a side that's grappling with injuries and overworked players. Chelsea are fortunate to have a large squad of quality players, but this would be a hard test even for them.

When will this format be finalised?

The Athletic report that a meeting was going to be held by UEFA's executive committee to decide the final changes - however, the meeting has been cancelled.

This is so because there was disagreement about the ECA (European Club Association) wanting a much greater say in how the Champions League’s broadcast and commercial rights are sold and marketed.

The Athletic adds that UEFA is willing to give up some control to the clubs but wants to retain a veto on key decisions.

It is not mentioned when the meeting will take place. Still, while the ECA has issues with the money aspect of the new changes, the format itself reportedly isn't in question right now.