UEFA reveal Champions League cash fears

European football's governing body broke its silence on why it decided to change the format of the Champions League from next season, saying its premier club competition had become dangerously close to becoming economically unviable.

At the end of two days of high-level meetings among European football's top brass in Monaco, UEFA general secretary Gerhard Aigner (above) said the organization had no choice but to scrap the second group phase of its flagship tournament under pressure from potential broadcasters.

"There is a new reality," Aigner told a news conference. "The current concept was losing pace. You should not reproduce something and keep it in a market where you can see that the success story is coming to an end."

He added: "For things to carry on for another four years would have been very irresponsible when the signals were clearly changing."

UEFA's decision to replace the second round robin phase with a knockout round looks certain to be a big hit with the fans, many of whom have become disillusioned with so many meaningless group games.

To win the Champions League next season will take 13 matches instead of 17, yet at the same time will significantly reduce the amount of potential revenue for Europe's big hitters.

For days, clubs like Manchester United and Liverpool have been expressing their resentment at UEFA's seemingly unilateral decision.

But instead of taking on the Swiss-based body in Monaco, the clubs reluctantly agreed to accept the new measures - much to Aigner's relief.

"We accept that due to time pressures the consultation process was not perfect," he said. "But a lot of things have happened in the last four months and it became increasingly clear that we had to alter our vision of what was economically viable."